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Company Records Book and Seal | Corporate Kit 101

Company Records Book and Seal | Corporate Kit 101 published on

Company Records Book and Seal
Order for only $29.95

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Company Records Book and Seal
Organizational Minutes and Resolutions
Company Ownership Register
Company Bylaws
Banking Resolution
Stock or Membership Certificates
Slip Case Cover
Free 30-Day Trial: General Counsel Club
Unlimited Business and Legal Advice
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Company Records Book and Seal 101

Welcome entrepreneurs, today’s article is about the corporate or LLC kit, known as the “company records book and seal,” its contents, and the importance of a company records book and seal for your business, by Spiegel & Utrera, P.A.

What is a Company Records Book and Seal?

So, what is the company records book and seal? A company records book and seal is a compilation of a business’ most important records. Company records book and seal typically come as a binder and slipcase cover, making it easy for a business to stay organized by storing all essential company records in one place. Local and state and federal authorities, among attorneys and accountants, may want to see your company records book and seal in the event of any legal proceedings or business transactions. Company records book and seal is not expensive and can serve the purpose of helping you avoid fines, penalties, legal action against you and losses, such as that of your business license.

Contents of a Company Records Book and Seal

Articles of Incorporation

One of the main items of content for your company records book and seal will be the Articles of Incorporation or organization. It’s a legal document that grants from the state the existence and the jurisdiction of your company. It contains the following information:

  • A company’s name.
  • Your legal purpose (you can write “any lawful purpose” or a variation of that).
  • The type of business.
  • The registered agent office (which is where any lawsuit will be served).
  • The shares and shareholders or membership certificates and members info.
  • As well as the corporate bylaws or company regulations.

Company Seal and Book

Let’s talk about the company seal and book and what that is. The company seal is the signature of your company as a separate legal company. The seal is used to produce an imprint on official paperwork like legal documents and contracts, leases and agreements, employment and vendor contracts, loan documents, minutes and operating agreements, and other company records. The company seal may also be used to authorize and legitimize stock or membership certificate—and of course, having one makes your business stand out as more professional at the bank and to any possible investors. As for the company records book, it’s typically a binder that contains all the contents of the company records—such as the articles of incorporation and the minutes.

Company Minutes

Company minutes is the term used for the notes that a secretary records in the meetings held by the board of directors, shareholders, members, officers or committees. A secretary of assigned person will write a record of every decision, outcome, or resolution discussed in that meeting as minutes and collect them into the company records book and seal. The company minutes may be required for significant business matters such as IRS audits, raising capital, borrowing money, by an accountant to prepare taxes, or by an attorney in court proceedings—among much other business or legal matters.

Company Bylaws

Company bylaws are the rules for the company. Every business requires guidelines in which to operate, regardless of type; limited liability companies, s corporations, c corporations, non-profits, even partnerships. Companies would also file in the company records book and seal a partnership agreement, an operating agreement, shareholder agreements, leases, bill of sales, deeds, asset purchase agreements, purchase or sale agreements, proposal agreements, service agreements, indemnification agreements, employment agreements, or any complicated legal document.

Stock and Membership Certificates

A company records book and seal also include stock and membership certificates, which are legal documents declaring that you are the registered owner of a certain number of shares within the corporation or your percentage of ownership in an LLC. Corporate stock certificates and LLC membership certificates are usually created with complex art designs to keep them from being copied or counterfeit, and it includes:

  • Your name.
  • Business Name.
  • An Identification Number.
  • The number of shares or percentage of ownership.
  • The Company Seal.
  • Signatures from signatories of the corporation, such as the president or secretary.

The Importance of a Company Records Book and Seal

Business Licenses

Company records book and seal are very important for a variety of business and legal matters. For example, if you’re trying to get a business license. Many licensing authorities require company documents over time. Company records book and seal is a good, easy, and essential way to substantiate that information.

IRS Audits

Also, for IRS audits—the company records book and seal are the most complete business record-keeping tool one can have. Should an IRS audit occur, its contents will likely be required. There are situations where the IRS and state taxing authorities may want to review your company records book and seal.

Borrowing Money

If you’re trying to borrow money—banks and creditors perform strict due diligence to qualify a business before lending money, and they may want to review components of your company records book and seal to satisfy their requirements.

Investors

Also, if you’re trying to get investors—many investors might want to view documents within your company records book and seal before they invest in your company. If you cannot provide this, they might be less willing, and having a professional and organized company records book and seal with your documents and seal, stock certificates, membership certificates, minutes, and other material that’s going to give investors the transparency that they want to make them feel good about the deal.

Get Your Company Records Book and Seal with 30 Days of Free Legal Advice

So now that you know what a company records book and seal is and why it’s essential, get your customized company records book and seal today. Order a current year company records book and seal for only $29.95, plus $17.95 shipping and processing. It includes:

  • Company records book and seal
  • Organizational minutes and resolutions
  • Corporate ownership register
  • Corporate bylaws
  • Banking resolution
  • Stock Certificates
  • Slipcase cover

For a limited time, it includes a 30-day free trial to Spiegel and Utrera’s General Council Club—that’s unlimited business and legal advice from business formation and litigation lawyers. You can’t beat that deal—give our office a call to order by phone at (800) 603-3900, or order online now.

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Interest Charge Domestic International Sales Corporation (IC-DISC 101)

Interest Charge Domestic International Sales Corporation (IC-DISC 101) published on

Interest Charge Domestic International Sales Corporation 101

What is an IC-DISC? It’s an Interest Charge-Domestic International Sales Corporation. If your business may involve U.S. manufacturing of goods for export, you may be entitled to tax savings with an IC-DISC. The new interest charge domestic international sales corporation must formally choose to be treated as an IC-DISC and must also file an annual U.S. income tax return even though it pays no U.S. income taxes.

Form an IC-DISC

interest-charge-domestic-international-sales-corporation

Each Corporation or Limited Liability Company is COMPLETE

INCLUDES State Filing Fee, “YES! Includes State Filing Fee”
INCLUDES Corporate or Company Seal and Book
INCLUDES Certificate or Articles of Incorporation or Organization
INCLUDES Company or Corporate Minutes
INCLUDES Corporate By Laws or LLC Regulations
INCLUDES Corporate or LLC Ownership Register
INCLUDES Banking Resolution
INCLUDES Membership or Stock Certificate
INCLUDES Preliminary Name Search
INCLUDES 110% Lowest Price Guarantee!

Yes, even INCLUDES Attorney’s Fee (No Hidden Attorney Fees).

INCORPORATE ONLINE

Interest Charge Domestic International Sales Corporation Rules and Requirements

To be eligible to make an IC-DISC election, the corporation must satisfy several IC-DISC rules and requirements:

  • There is a single class of stock with an aggregate minimum par value of $2,500;
  • 95% of gross receipts involve goods manufactured in the U.S. as described below;
  • 95% of the assets of the IC-DISC is inventory for export as described below;
  • The tax year conforms to that of the IC-DISC’s principal shareholder;
  • Separate books and records are maintained by the IC-DISC; and
  • One of the IC-DISC rules is that the IC-Disc is not a member of a controlled group involving a foreign sales corporation.

Interest Charge Domestic International Sales Corporation Commissions

Some considerations to notice in regard to IC-DISC commissions:

  • The exporter-parent corporation pays an annual, tax-deductible IC-DISC commission on its export sales to the IC-DISC (the commission deduction could yield a tax benefit as high as 35 percent).
  • The qualified gross receipts test is met if 95% or more of the gross receipts consist of IC-DISC commissions earned with respect to qualified export property, which is property (i) manufactured, produced, grown, or extracted in the United States by a person other than an interest charge domestic international sales corporation.
  • The allowable commission rate is either 50 percent of export net income or 4 percent of gross export income, whichever is greater.

IC-DISC Tax

The new corporation must formally elect to be treated as an IC-DISC and must also file an annual U.S. income tax return even though it pays no U.S income taxes. The commissions paid to the IC-DISC create 35 percent tax benefits for the U.S. exporting corporation while the individual shareholders of the IC-DISC would pay only 15 percent U.S. income tax on dividends received. That means the permanent IC-DISC tax savings for U.S. exporters and their shareholders can be as high as 20 percent!

  • The commission income is accumulated and untaxed in the IC-DISC. The deferral of income is allowable on annual export sales up to $10 million;
  • The IC-DISC shareholders are required to pay interest (to the IRS) on the accumulated but untaxed income; and
  • The IC-DISC shareholders pay U.S. income tax on dividends received from the IC-DISC when distributions are made (the IC-DISC tax on dividends for individuals is now 15 percent).

IC-DISC Dividends

Export-derived proceeds are paid to IC-DISC shareholders as a dividend taxed at a lower rate than the taxable income-reducing deduction realized by the exporter-parent (a potential tax savings of 20 percent!). Here’s an example of the process and the IC-DISC dividends paid to IC-DISC shareholders:

Gross receipts of U.S. goods exported 20,000,000
Cost of goods sold (16,000,000)
Gross Margin 4,000,000
Selling, general and administrative costs (3,000,000)
Export sales net income 1,000,000
IC-DISC commission:
50% of export net income 500,000
4% of export gross receipts (greater sum) 800,000
IC-DISC commission paid by exporter-parent corporation to IC-DISC 800,000
Commission paid by exporter-parent corporation is a deductible business expense reducing taxable income by a rate of 35%.     280,000
IC-DISC Dividend paid to IC-DISC shareholders 800,000
Federal tax rate of 15 % on IC-DISC dividend paid to IC-DISC shareholders (120,000)
IC-DISC net tax savings 160,000
For IC-DISC taxes, the IRS 1120 IC-DISC Tax Form and Instructions can be found in this link to the official IRS site.
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Steps to start an LLC in Florida | LLC Formation Lawyer

Steps to start an LLC in Florida | LLC Formation Lawyer published on
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7 EASY STEPS to start an LLC in Florida

Starting an LLC in Florida gives business owners personal liability protection, great tax rates, and the business benefits that come from operating under a legal entity other than yourself as a sole proprietorship or independent contractor.

We’ve outlined the steps to start an LLC in Florida in the following 7 easy steps:

Step 1:

To start an LLC in Florida, you need to gather the following contact information for the formation of your company:

  • Name
  • Address
  • City
  • State
  • Zip Code
  • Phone Number
  • Email

Step 2:

Decide on a name, then a Suffix for the name of your Florida LLC from one of the following:

  • Limited Liability Company
  • L.L.C
  • LLC
  • Ltd. Liability Co.
Submit your details for immediate assistance in starting a Florida LLC:
Full Name:

Phone:

Email:

   

Step 3:

State the purpose of your Florida LLC:

  • The purpose for an LLC may simply be written as follows: “The purpose of the Limited Liability Company is to engage in any lawful activity for which a Limited Liability Company may be organized in this state.”

Step 4:

Next, gather the following entity information:

  • Products
  • Services
  • Company Street Address
  • City
  • State
  • Zip-Code
  • County

Step 5:

Enter membership information for your Florida LLC:

  • Member Name
  • Total Percentage of Ownership of the LLC
  • Capital Contribution
  • Address Info
  • Phone
  • Social Security Number
  • Total Capital Contribution (sum of all members)

Step 6:

Name and SSN of the Operating Managers for your LLC (the operating managers can also be Members, and only one operating manager may be required):

  • Operating Manager
  • Vice-Operating Manager
  • Secretary
  • Treasurer

Step 7:

You may also need:

  • A Business License
    Your LLC may require business licenses, permits, and tax registration.
  • A Registered Agent
    The Registered Agent will collect the official mail or notifications, then process and communicate them accordingly to the business owner. Florida statutes require that you have and continue to maintain a registered office and registered agent.
  • A Company Seal and Book
    Its purpose is to contain all the corporation’s important documents, such as the certificate of organization, company minutes, LLC regulations, membership certificates, along with records of important actions taken by the corporation, such as issuing shares, purchasing real estate and other businesses, and obtaining various licenses.

Need help starting an LLC in Florida?

  • Forming an LLC with an experienced law firm rather than a non-lawyer agency or by yourself can help you avoid negative business, tax, and legal implications and penalties within your jurisdiction.
  • We’ll make sure you form an LLC with the best tax rates and corporate structure for your particular venture, using our 175 years of cumulative experience with over 260,000 clients.
  • Forming an LLC with us provides you with free legal advice and a complete corporate kit with a 110% lowest price guarantee. If you were to do it yourself or through a non-lawyer agency, you won’t receive the important legal advice you need and the complete corporate kit that LLC should have to ensure a safe and successful start.
  • Call our business lawyers for a free consultation at (800) 603-3900

Each Corporation or Limited Liability Company is COMPLETE

INCLUDES State Filing Fee, “YES! Includes State Filing Fee”
INCLUDES Corporate or Company Seal and Book
INCLUDES Certificate or Articles of Incorporation or Organization
INCLUDES Company or Corporate Minutes
INCLUDES Corporate By Laws or LLC Regulations
INCLUDES Corporate or LLC Ownership Register
INCLUDES Banking Resolution
INCLUDES Membership or Stock Certificate
INCLUDES Preliminary Name Search
INCLUDES 110% Lowest Price Guarantee !

Yes, even INCLUDES Attorney’s Fee (No Hidden Attorney Fees).

What’s the secret to such great prices?


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