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https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-employees-shareholders-and-corporate-officers
The definition of an employee for FICA (Federal Insurance Contributions Act), FUTA (Federal Unemployment Tax Act) and federal income tax withholding under the Internal Revenue Code include corporate officers. When corporate officers perform a service for the corporation and receive or are entitled to payments, those payments are considered wages. The fact that an officer is also a shareholder does not …
https://www.irs.gov/pub/irs-news/fs-08-25.pdf
The Internal Revenue Code establishes that any officer of a corporation, including S corporations, is an employee of the corporation for federal employment tax purposes. S corporations should not attempt to avoid paying employment taxes by having their officers treat their compensation as cash distributions, payments of personal expenses, and/or loans rather than as wages.
https://legalbeagle.com/12722375-do-you-have-to-pay-officers-salaries-out-of-s-corporations.html
Your S corporation can provide a portion of your officers’ compensation in the form of payment of health insurance premiums. As long as the employee-shareholder owns more than 2 percent of your corporation’s stock, health insurance benefits are not subject to Social Security, Medicare or unemployment taxes, though they must be noted on the employee’s W-2 form.
https://www.wolterskluwer.com/en/expert-insights/powers-and-duties-of-corporation-directors-and-officers
Apr 24, 2019 · In addition, a director who votes for a dividend, distribution, or stock purchase made in violation of law or the articles of incorporation, is liable, with all other directors, to the corporation for the amount of the payment that exceeds what could have been paid without violating the law or the articles. Corporations may eliminate or limit their directors’ liability for a breach of fiduciary duty by so providing in their articles of incorpora…
https://lotzar.com/many-corporate-officers-must-corporation/
Dec 18, 2014 · However, while a Corporation can have only one owner and still be considered a valid business entity, it is essential that you have all of the customarily required corporate officers. An experienced Scottsdale Arizona corporate lawyer can provide assistance with getting your organization incorporated and with maintaining the corporate form.
https://info.legalzoom.com/article/c-corp-salary-rules
There is no law requiring a corporation to hire employees or pay them a salary. Once this type of company files its articles of incorporation , pays the required fees, and remains in good standing, it is considered a legal entity regardless of whether it hires 500 employees or none at all.
https://www.upcounsel.com/are-bylaws-required-for-a-corporation
Nov 06, 2020 · The number of directors and corporate officers of the corporation; How the records of the corporation will be prepared, inspected, and kept ... Your organization's bylaws will help to outline the rules and regulations that govern the day-to-day operations and keep everything running smoothly. ... We are not a law firm, do not provide any legal ...
https://www.findlaw.com/smallbusiness/incorporation-and-legal-structures/corporate-structure-directors-to-shareholders.html
Jul 22, 2019 · A small corporation might have one director (who may also serve as the sole officer and shareholder), while a large corporation may have 10 or more people serving on its board of directors. For voting purposes, a corporation with more than one director should keep an odd number (3, 5, 7, etc.) of directors on its board.
https://legalcareerpath.com/what-is-corporate-law/
Corporate law is the body of laws, rules, regulations and practices that govern the formation and operation of corporations. It’s the body of law that regulates legal entities that exist to conduct business. The laws touch on the rights and obligations of all of the people involved with forming, owning, operating and managing a corporation. […]
https://law.duke.edu/news/endless-cycle-corporate-crime-and-why-its-so-hard-stop/
Jan 13, 2017 · Increasingly, the government is settling criminal claims through deferred prosecution agreements (DPAs). Once a way for low-level drug offenders to avoid incarceration by accepting probation, in the early 1990s, corporations began negotiating DPAs that allowed them to escape conviction by accepting liability, paying a hefty fine, and cooperating with the government.
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