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Corporation Problems

What is a corporation?

A corporation is a business created under the laws and regulation of a state that operate with its own liabilities that are separate legal business distinct from the members of the corporation. Most types of corporations are used to conduct business. Corporations use to be formed by charter passed by legislature, but in most cases now allow the owner to register the corporation. Read below where many corporation questions have been answered by the Experts.

Is there a limited amount of Doing Business As (DBA) a corporation is allowed to have?

Generally speaking there is no limit to the amounts of DBAs that a corporation can have although having a whole lot of DBAs may get very costly for the corporation since the corporation would have to file DBA announcements in every area that the corporation wants to do business in. If the corporation dose business throughout the United States, the corporation would need to file a DBA in every state and in some states they would need to file DBAs in every county that the corporation would like to do business in.

If a corporation does business only in the state of Kansas and only offers stock to Kansas residents, does the corporation have to register with the Securities and Exchange Commission?

17 C.F.R. Section 240.147 states: “a securities offering made exclusively to residents of a single state by a company both resident and doing business in that state are exempt from registration.” This means that since the corporation dose business only in Kansas and only offers stock to Kansas residents; it does not have to register with the Securities and Exchange Commission.

Can a corporation be dissolved if there is a pending civil suit and a judgment against it?

Can a 50% partner dissolve a corporation over a dispute and can the other partner buy him/her out and reopen the corporation and would the partner need to pay the cost of the business or just the assets/equipment? In most cases the partner can dissolve the corporation. The partners would need to get an appraiser in to appraise the assets and then the partner that wants to continue with the corporation would split the profits with the other partner. The person wanting to continue the corporation could then reopen the corporation and do as he/she wants.

Whether a corporation is having trouble or there are questions in which the owners need answered, the Experts can help. A corporation is a type of business that has several rules and regulations that make it confusing to most people. Dissolving or starting a corporation is a very detailed action and the Experts can advise as to how to move forward.
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