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Nancy Delain
Nancy Delain, Attorney
Category: Business Law
Satisfied Customers: 198
Experience:  Registered Patent Attorney (1/2005); Attorney at Law (1/2004); M.S., Tech Writing (5/1981)
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I have a small furniture business that is incorporated. I

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I have a small furniture business that is incorporated. I have become my 21 year old sons music agent. He is a singer song writer. Is there anyway I can envelope my music agent business under the furniture corporation. There are alot of expenses in the music industry that an agent has. My furniture business is doing poorly because of the economy. What can I do so I don't have to have the expense of another business at tax time with my accountant . I really need to write my expenses off. I am not getting paid in the music business. Sunshine
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The answer to your question depends on how your furniture corporation was set up.

Option 1: If the formation document and the shareholders' agreement state that the purpose for which the corporation was formed is "any lawful purpose" (or words to that effect), then there is no reason why you can't expand the corporation's activities to include the music with no further ado

Option 2: f, though, the formation document or the shareholders' agreement state that the purpose of the corporation is to handle the furniture business, then you would have to (a) amend the formation document formally (with a fee) to the agency that handles business formations (generally the dept. of state) AND (b) amend the shareholders' agreement in the records of the corporation before you can take on the music business.

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