Corporate Records What to Keep
Whether youve created a corporation or limited liability company, you must maintain records. Heres a primer on the basic corporate records you need to maintain. Corporate RecordsWhen forming a corporation or limited liability company, you are creating an entity independent from yourself. In so doing, this independent entity must take actions for itself, not you. For instance, a corporation will have a corporate bank account through which all revenues and debt payments are handled. As a shareholder, even with a single shareholder entity, you will not pay person expenses out of the corporate bank account. This concept extends to record keeping. For the purpose of this article, I am considering both corporation and limited liability company documents as corporate records. Although the records of each entity have different names, they serve the same purpose. For instance, articles of incorporation for a corporation serve the same purpose as Articles of Organization. The following list applies to corporations, but you can apply the list to the limited liability equivalents. Although each state has different records requirements, all require you to keep the following records.1. Articles of Incorporation The charter establishing the existence of the entity with the relevant Secretary of State. 2. Bylaws The rules of the corporation. Essentially, the bylaws set out how the https://israelkqmq906.theburnward.com/employment-background-check corporation will be administered from a procedural perspective, the rights of shareholders, how meetings will be called and so on. 