If you have incorporated your small business, it is no doubt because you understand the many benefits that can be derived from this type of business formation. One example is that you reduce your personal liability. Your personal assets, like your vehicles and home, are not tied up with your business, so creditors can’t go after these items if your business defaults on a loan.
Of course, you only continue to get the benefits of having an incorporated business as long as you maintain the necessary documents. Here are a few things that you need to do if your small business is going to remain a legal corporation.
- Keep an updated list of all corporate officers, including their current contact info
- Retain current information for shareholders
- Maintain the company’s articles of incorporation
- Complete annual reports regarding the financial condition of the corporation
- Hold corporate meetings and keep the meeting minutes
- Maintain the company’s bylaws
These are just some of the things that you will need to do. Not only are there federal regulations regarding corporations, but each state will also have requirements. That is why it is important to find a business attorney in the state your business is incorporated in.
A Small Business Attorney in San Diego, California
Pokala Law APC is here to help small business owners in southern California. Our specialization in business formation law means that we’re the firm you want in your corner when you are trying to maintain a corporation in California. To learn more, give us a call today at 1.844.695.1487, or you can request an appointment online.