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8 Jan 2018, 8:17 am by Trent Dykes
However, note that Delaware requires corporations owing $5,000 or more for the prior year to make estimated payments for the current (going-forward) year’s franchise tax with 40 percent due June 1, 20 percent due by September 1, 20 percent due by December 1 and the remainder due March 1. [read post]
10 Jan 2020, 12:44 pm by Trent Dykes
Under this example, using the same corporation above having 15 million authorized shares of stock with a par value of $0.01, gross assets of $1.2 million and issued shares totaling 10 million, the Assumed Par Value Capital Method of calculation would result in a franchise tax due of only $800 (i.e., $1.2 million / 10 million = $0.12 * 15 million = $1.8 million, rounded up to the next million, so $2 million. $2 million / 1 million = 2 * $400 = $800). [read post]
8 Jan 2018, 8:17 am by Trent Dykes
However, note that Delaware requires corporations owing $5,000 or more for the prior year to make estimated payments for the current (going-forward) year’s franchise tax with 40 percent due June 1, 20 percent due by September 1, 20 percent due by December 1 and the remainder due March 1. [read post]
16 Jan 2019, 1:16 pm by Trent Dykes
Under this example, using the same corporation above having 15 million authorized shares of stock with a par value of $0.01, gross assets of $1.2 million and issued shares totaling 10 million, the Assumed Par Value Capital Method of calculation would result in a franchise tax due of only $800 (i.e., $1.2 million / 10 million = $0.12 * 15 million = $1.8 million, rounded up to the next million, so $2 million. $2 million / 1 million = 2 * $400 = $800). [read post]
16 Jan 2019, 1:16 pm by Trent Dykes
Under this example, using the same corporation above having 15 million authorized shares of stock with a par value of $0.01, gross assets of $1.2 million and issued shares totaling 10 million, the Assumed Par Value Capital Method of calculation would result in a franchise tax due of only $800 (i.e., $1.2 million / 10 million = $0.12 * 15 million = $1.8 million, rounded up to the next million, so $2 million. $2 million / 1 million = 2 * $400 = $800). [read post]
10 Jan 2020, 12:44 pm by Trent Dykes
Under this example, using the same corporation above having 15 million authorized shares of stock with a par value of $0.01, gross assets of $1.2 million and issued shares totaling 10 million, the Assumed Par Value Capital Method of calculation would result in a franchise tax due of only $800 (i.e., $1.2 million / 10 million = $0.12 * 15 million = $1.8 million, rounded up to the next million, so $2 million. $2 million / 1 million = 2 * $400 = $800). [read post]
29 Jun 2023, 8:12 am by Joshua Lloyd
The court relied on subsections (a) and (d) of 805 ILCS 180/10-10 for its ruling: "All or specified members of a limited liability company are liable in their capacity as members for all or specified debts, obligations, or liabilities of the company if: (1) a provision to that effect is contained in the articles of organization; and (2) a member so liable has consented in writing to the adoption of the provision or to be bound by the provision. [read post]
—Abe Chayes [1] Abe Chayes, a former Kennedy administration official and long-time Harvard Law professor, wrote those words at the outset of what might be thought of as America’s own “Thirty Glorious Years” — that three-decade span from the late seventies through 2008 when it seemed possible that private enterprise could operate on a global stage, free from the constraints of governmental regulation and oversight. [read post]
11 Aug 2014, 11:47 am
The twelve factors are (1) common ownership (presumably relevant when multiple entities are involved); (2) pervasive control (which is not enough, by itself, to pierce the veil); (3) confused intermingling of business assets; (4) thin capitalization; (5) nonobservance of corporate formalities; (6) absence of corporate records; (7) no payment of dividends; (8) insolvency at the time of the litigated transaction; (9) siphoning away of corporation's… [read post]
13 Jan 2020, 9:54 am by IncNow
Below are a few guidelines that the Division of Corporations follows that you should be aware of when giving a title to your Delaware business entity and searching company names: 1. [read post]
1 Jul 2013, 10:19 am
Thermostat Recycling Corporation, a nonprofit, industry-funded entity, operates roughly 350 collection sites in California that accept and recycle these thermostats. [read post]
24 Apr 2015, 7:08 am by Docket Navigator
Symantec Corporation et al, 1-10-cv-01067 (DED April 22, 2015, Order) (Stark, J.) [read post]
4 Sep 2013, 10:17 am by Karel Frielink
Liability of the 2nd degree director Under Section 2:17 subsection 1 of the Curaçao Civil Code, the liability of a legal entity as a director of another legal entity (the direct or 1st degree director) also rests jointly and severally on each person who at the time this liability arose for the legal entity was its director (the indirect or 2nd degree director). [read post]
11 Aug 2014, 6:47 am by Michael Smith
The twelve factors are (1) common ownership (presumably relevant when multiple entities are involved); (2) pervasive control (which is not enough, by itself, to pierce the veil); (3) confused intermingling of business assets; (4) thin capitalization; (5) nonobservance of corporate formalities; (6) absence of corporate records; (7) no payment of dividends; (8) insolvency at the time of the litigated transaction; (9) siphoning away of corporation’s… [read post]
21 Mar 2021, 9:20 am by Charles (Chuck) Rubin
For example, assume that a 100% interest owned by a decedent as his sole asset in an operating corporation is valued at $10 million, with little or no discounts taken.Then assume that 60% of the corporation will pass to a bypass trust, with the remaining 40% passing to a charity. [read post]
2 Oct 2016, 12:44 pm by Marco Rossi
 Under the indirect ownership rule, a shareholding or ownership interest (of any size) in the “tested" corporate entity, owned by another legal entity (such as another corporate entity, trust, foundation, etc.), is attributed to the beneficial owner(s) of such other legal entity, to determine the ultimate beneficial owner of the “tested” corporate entity. [read post]