{"id":24309,"date":"2022-03-11T16:45:08","date_gmt":"2022-03-11T21:45:08","guid":{"rendered":"https:\/\/amerilawyer-blog.local\/?p=24309"},"modified":"2022-08-31T09:19:04","modified_gmt":"2022-08-31T13:19:04","slug":"create-close-corporation","status":"publish","type":"post","link":"https:\/\/www.amerilawyer.com\/blog\/incorporate\/create-close-corporation","title":{"rendered":"Start a Close Corporation for Shareholder Advantages"},"content":{"rendered":"<div style=\"font-size:16px\">\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/amerilawyer-blog.local\/wp-content\/uploads\/2022\/03\/Close-Corporation-Post-Design.png\" alt=\"start-close-corporation\" width=\"1920\" height=\"400\" class=\"alignnone size-full wp-image-24313\" srcset=\"https:\/\/www.amerilawyer.com\/blog\/wp-content\/uploads\/2022\/03\/Close-Corporation-Post-Design.png 1920w, https:\/\/www.amerilawyer.com\/blog\/wp-content\/uploads\/2022\/03\/Close-Corporation-Post-Design-300x63.png 300w, https:\/\/www.amerilawyer.com\/blog\/wp-content\/uploads\/2022\/03\/Close-Corporation-Post-Design-1024x213.png 1024w, https:\/\/www.amerilawyer.com\/blog\/wp-content\/uploads\/2022\/03\/Close-Corporation-Post-Design-768x160.png 768w, https:\/\/www.amerilawyer.com\/blog\/wp-content\/uploads\/2022\/03\/Close-Corporation-Post-Design-1536x320.png 1536w, https:\/\/www.amerilawyer.com\/blog\/wp-content\/uploads\/2022\/03\/Close-Corporation-Post-Design-144x30.png 144w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/p>\n<h1 style=\"font-family:'arial black'\">Close Corporations<\/h1>\n<p style=\"text-align:justify;\">A Close Corporation (also known as a Closely Held Corporation) is a business structure available in over a dozen states with a host of unique strong points in flexibility, simplicity, and control. The Close Corporation may also inherit benefits from an S or C corporation, like their respective taxations and limited liability protection. With fewer corporate formalities and shareholders, fewer reporting and legal requirements, offering great privacy and command over your business\u2014a Close Corporation is a valuable option. Well-known companies such as IKEA, SC Johnson, Publix, and ALDI all use a statutory close corporation as their business structure. Let\u2019s go over the specific details below.<\/p>\n<style>\n\t\tbutton {\n\t\t\tcolor: #ffffff;\n\t\t\tbackground-color: dodgerblue;\n\t\t\tfont-size: 24px;\n\t\t\tborder-radius: 5px;\n\t\t\tpadding: 5px 35px;\n\t\t\tcursor: pointer\n\t\t}\n\t\tbutton:hover a. {\n\t\t\tcolor: #000000;\n\t\t\tbackground-color: #fbff00;\n\t\t}\n\t<\/style>\n<p>\t<button type=\"annualfilingbutton\" name=\"trademark button\"><b><a href=\"https:\/\/amerilawyer-blog.local\/closely-held-corporation-form\/\" style=\"color:white\">Get Started<\/a><\/b><\/button><\/p>\n<h2 style=\"font-family:'arial black';\">Benefits and Advantages of a Close Corporation<\/h2>\n<p style=\"text-align:justify; \">A Close Corporation has many advantages and benefits, including:<\/p>\n<ul>\n<li style=\"text-align:justify\">Relaxed corporate regulations and compliance requirements. No need for a board of directors or annual meetings.<\/li>\n<li style=\"text-align:justify\">More shareholder control due to fewer shareholders and the inability to sell shares to non-shareholders.<\/li>\n<li style=\"text-align:justify\">Can elect pass-through taxation like an S Corporation or be taxed as a C Corporation. This flexibility makes it easier to meet your tax goals.<\/li>\n<li style=\"text-align:justify\">Offers limited liability for all shareholders to protect their personal assets from creditors and claims against the corporation.<\/li>\n<li style=\"text-align:justify\">Fewer administrative and legal costs.<\/li>\n<\/ul>\n<div style=\"margin-top:30px\">\n<!--BEGINNING OF MOBILE FORM -->\r\n<div align=\"center\" style=\"margin-top:0px; padding-top:0px\">\r\n<div style=\"border-style: solid none solid none; background-color: #FFFFCC; border-top-width: 1px; border-bottom-width: 1px; border-top-color: #000000; border-bottom-color: #000000;padding-top:10px;padding-bottom:10px;padding-left:5px;\">\r\n                <span style=\"font-family: 'arial black'; font-size: 18px\"><strong>\r\n\t\t\t\t\tSUBMIT DETAILS AND GET OUR ATTORNEYS TO CALL <b style=\"border-bottom:double 2px black\">YOU<\/b><\/strong> <\/span>\r\n\t<div class=\"everest-forms\"><div class=\"evf-container default\" id=\"evf-24400\"><form id=\"evf-form-24400\" class=\"everest-form\" data-formid=\"24400\" data-ajax_submission=\"1\" data-keyboard_friendly_form=\"0\" data-form_state_type=\"\" method=\"post\" enctype=\"multipart\/form-data\" action=\"\/blog\/wp-json\/wp\/v2\/posts\/24309\"><div class=\"evf-field-container\"><input type=\"hidden\" id=\"_wpnonce24400\" name=\"_wpnonce24400\" value=\"5f7bf685e5\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/blog\/wp-json\/wp\/v2\/posts\/24309\" \/><div class=\"evf-frontend-row\" data-row=\"row_1\" conditional_rules=\"[]\"><div class=\"evf-frontend-grid evf-grid-3\" data-grid=\"grid_1\"><\/div><div class=\"evf-frontend-grid evf-grid-3\" data-grid=\"grid_2\"><div id=\"evf-24400-field_s5CVsrkW3h-5-container\" class=\"evf-field evf-field-last-name form-row validate-required\" data-required-field-message=\"This field is required.\" data-field-id=\"s5CVsrkW3h-5\"><label class=\"evf-field-label\" for=\"evf-24400-field_s5CVsrkW3h-5\"><span class=\"evf-label\">Full Name<\/span> <abbr class=\"required\" title=\"Required\">*<\/abbr><\/label><input type=\"text\" id=\"evf-24400-field_s5CVsrkW3h-5\" class=\"input-text\" name=\"everest_forms[form_fields][s5CVsrkW3h-5]\" required><\/div><div id=\"evf-24400-field_BE8xVHTOUb-6-container\" class=\"evf-field evf-field-last-name form-row validate-required\" data-required-field-message=\"This field is required.\" data-field-id=\"BE8xVHTOUb-6\"><label class=\"evf-field-label\" for=\"evf-24400-field_BE8xVHTOUb-6\"><span class=\"evf-label\">Phone<\/span> <abbr class=\"required\" title=\"Required\">*<\/abbr><\/label><input type=\"text\" id=\"evf-24400-field_BE8xVHTOUb-6\" class=\"input-text\" name=\"everest_forms[form_fields][BE8xVHTOUb-6]\" required><\/div><div id=\"evf-24400-field_CXyDYJpCsP-7-container\" class=\"evf-field evf-field-email form-row validate-required validate-email\" data-required-field-message=\"Please enter a valid email address.\" data-field-id=\"CXyDYJpCsP-7\"><label class=\"evf-field-label\" for=\"evf-24400-field_CXyDYJpCsP-7\"><span class=\"evf-label\">Email<\/span> <abbr class=\"required\" title=\"Required\">*<\/abbr><\/label><input type=\"email\" id=\"evf-24400-field_CXyDYJpCsP-7\" class=\"input-text\" name=\"everest_forms[form_fields][CXyDYJpCsP-7]\" required ><\/div><\/div><div class=\"evf-frontend-grid evf-grid-3\" data-grid=\"grid_3\"><\/div><\/div><\/div><div class=\"evf-honeypot-container evf-field-hp\"><label for=\"evf-24400-field-hp\" class=\"evf-field-label\">Comment<\/label><input type=\"text\" name=\"everest_forms[hp]\" id=\"evf-24400-field-hp\" class=\"input-text\"><\/div><div class=\"evf-submit-container \" ><input type=\"hidden\" name=\"everest_forms[id]\" value=\"24400\"><input type=\"hidden\" name=\"everest_forms[author]\" value=\"2\"><button type='submit' name='everest_forms[submit]' class='everest-forms-submit-button button evf-submit ' id='evf-submit-24400' value='evf-submit' data-process-text=\"Processing\u2026\" conditional_rules='&quot;&quot;' conditional_id='evf-submit-24400'  id=\"evf-submit-24400\" aria-live=\"assertive\">Click Here to Get Assistance &gt;&gt;<\/button><\/div><\/form><\/div><!-- .evf-container --><\/div> \r\n<\/div>\r\n<span style=\"font-size:11px\">* Please give our attorneys up to 4 business hours to call your phone. Thank you.<\/span>\r\n\r\n<\/div>\r\n<!--END OF MOBILE FORM-->\r\n\n<\/div>\n<h2 style=\"font-family:'arial black'\">Close Corporation Details to Keep in Mind<\/h2>\n<p style=\"text-align:justify\">The close corporation structure differs from standard corporations in certain aspects, such as:<\/p>\n<ul>\n<li style=\"text-align:justify\">Interests of a Close Corporation cannot get traded publicly.<\/li>\n<li style=\"text-align:justify\">Closed Corporations must be owned and operated by people and not other legal entities.<\/li>\n<li style=\"text-align:justify\">Majority shareholders have the most decision-making power and control; minority shareholders may need approval before transferring or selling shares to others.<\/li>\n<\/ul>\n<h2 style=\"font-family:'arial black'\">Why a Close Corporation Needs a Shareholder Agreement<\/h2>\n<p style=\"text-align:justify\">The importance of a shareholder agreement parallels that of an operating agreement in other entities. We&#8217;re not just trying to sell a service\u2014we recommend this as an essential accessory for your incorporation to:<\/p>\n<ul>\n<li style=\"text-align:justify\">Detail critical aspects of its management and financial structure.<\/li>\n<li style=\"text-align:justify\">State how the shares get distributed when a shareholder leaves or dies.<\/li>\n<li style=\"text-align:justify\">Outline shareholder rights and obligations.<\/li>\n<li style=\"text-align:justify\">Handle disputes and resolve conflicts.<\/li>\n<li style=\"text-align:justify\">Establish a non-compete clause.<\/li>\n<li style=\"text-align:justify\">Describe shareholder profit distribution.<\/li>\n<\/ul>\n<p>\t<button type=\"annualfilingbutton\" name=\"trademark button\" style=\"background-color: yellow !important; border:1px solid black\"><b><a href=\"https:\/\/amerilawyer.com\/agreements\/\" style=\"color:black\">Shareholder Agreement<\/a><\/b><\/button><\/p>\n<h2 style=\"font-family:'arial black'\">Starting a Close Corporation<\/h2>\n<p style=\"text-align:justify\">To start a Close Corporation, or if you have any questions, you may call our office directly during regular business hours at <a href=\"tel:1-800-603-3900\">(800) 603-3900<\/a> and promptly speak to an attorney, or you can <a href=\"https:\/\/amerilawyer-blog.local\/closely-held-corporation-form\/\" rel=\"noopener\" target=\"_blank\">click here<\/a> to get the process started online. If you&#8217;d like someone to contact you instead, please fill out our Immediate Assistance Form on this page.<\/p>\n<div style=\"display:inline-block\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/amerilawyer-blog.local\/wp-content\/uploads\/2022\/01\/29.95-1-1.png\" alt=\"corporate-kit-only-29.95\" width=\"350\" height=\"350\" class=\"alignnone size-full wp-image-22613\" style=\"\" srcset=\"https:\/\/www.amerilawyer.com\/blog\/wp-content\/uploads\/2022\/01\/29.95-1-1.png 720w, https:\/\/www.amerilawyer.com\/blog\/wp-content\/uploads\/2022\/01\/29.95-1-1-300x300.png 300w, https:\/\/www.amerilawyer.com\/blog\/wp-content\/uploads\/2022\/01\/29.95-1-1-150x150.png 150w, https:\/\/www.amerilawyer.com\/blog\/wp-content\/uploads\/2022\/01\/29.95-1-1-144x144.png 144w\" sizes=\"auto, (max-width: 350px) 100vw, 350px\" \/>\n<\/div>\n<div style=\"display:inline-block; padding:20px; vertical-align:middle\">\n<h3>Free Corporate Kit Included With Your Close Corporation or <a href=\"https:\/\/www.amerilawyer.com\/corporate-kit\/\" rel=\"noopener\" target=\"_blank\">$29.95 Separately<\/a><\/h3>\n<ul>\n<li>Completed Corporate Records Book and Seal<\/li>\n<li>Slip Case Cover<\/li>\n<li>Corporate Organizational Minutes<\/li>\n<li>Corporate Resolutions<\/li>\n<li>Corporate By Laws<\/li>\n<li>Corporate Ownership Register<\/li>\n<li>Banking Resolution<\/li>\n<li>Stock Certificate<\/li>\n<\/ul>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":null,"protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[82,333],"tags":[],"class_list":["post-24309","post","type-post","status-publish","format-standard","hentry","category-incorporate","category-newsletter"],"_links":{"self":[{"href":"https:\/\/www.amerilawyer.com\/blog\/wp-json\/wp\/v2\/posts\/24309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.amerilawyer.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.amerilawyer.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.amerilawyer.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amerilawyer.com\/blog\/wp-json\/wp\/v2\/comments?post=24309"}],"version-history":[{"count":0,"href":"https:\/\/www.amerilawyer.com\/blog\/wp-json\/wp\/v2\/posts\/24309\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.amerilawyer.com\/blog\/wp-json\/wp\/v2\/media?parent=24309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amerilawyer.com\/blog\/wp-json\/wp\/v2\/categories?post=24309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amerilawyer.com\/blog\/wp-json\/wp\/v2\/tags?post=24309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}