Gaizer.com Tips for Business Start-ups

The following is for informational purposes only, always consult with your tax or legal professional

In order to maintain all the benefits of corporation status, the owners need to do the following:

• The corporation needs to hold annual meetings between shareholders and directors.
• All major transactions need to be recorded in the corporate minutes.
• The corporation directors must sign documents in the name of the corporation.
• The corporation must have separate bank accounts from its owners and keep thorough and independent financial records.
• The corporation must file a separate tax return.