Respecting the Corporate Form

Please note that this is a general discussion and should not be viewed as legal advice for your particular situation. Please discuss these items with your attorney before deciding on a course of action.

Set-up

Be sure that your entity is set up properly. It is not enough to simply file your articles with the state. There are many other items that need to be addressed, including an organization meeting, issuance of stock, preparation of by-laws, officer designations, etc.

Maintenance

Depending on what type of corporation you have, you must maintain at least two officers and conduct at least one annual meeting to document the activities of the corporation. Always remember that you are a separate and distinct entity from your corporation and that there has to be a structure for every transaction you have with the corporation. Never pay personal bills from a corporate checkbook. See Appendix A-13 for information on respecting the corporation and keeping minutes.