Why Incorporate Federally or Provincially: Benefits and Differences

Understanding Incorporation Basics of Incorporation Incorporation is the process of creating a legal entity separate from its owners. When a business incorporates, it becomes a corporation, which has its own legal rights and obligations. This means that the corporation can enter into contracts, own property, and sue or be sued in its own name. Incorporating […]

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Articles of Incorporation Philippines: A Comprehensive Guide

Understanding Articles of Incorporation in the Philippines Definition and Importance The Articles of Incorporation is a legal document that establishes the existence of a corporation in the Philippines. It is a requirement under the Corporation Code of the Philippines and must be submitted to the Securities and Exchange Commission (SEC) for approval. The Articles of […]

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What Happens When Corporation Tax Increases: Effects on Businesses and the Economy

Overview of Corporation Tax Corporation tax, also known as corporate tax or corporate income tax, is a tax levied on the profits earned by companies. The tax rate is usually a fixed percentage of the profits earned by the company. The tax is paid by the company to the government and is used to fund […]

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What Does Incorporation Doctrine Mean: A Clear Explanation

Understanding Incorporation Doctrine The incorporation doctrine is a constitutional principle that extends the Bill of Rights protections against the federal government to the states. It is a legal concept that has been developed by the Supreme Court over time. The doctrine is based on the idea that certain fundamental rights are so important that they […]

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Pre-Incorporation Expenses: What They Are and How to Handle Them

Understanding Pre-Incorporation Expenses Definition and Nature Pre-incorporation expenses are the expenses incurred by a company before its incorporation. These expenses are incurred during the planning and preparation stages of a business, such as the legal and accounting services required to set up the company. They are considered as capital expenses, as they are incurred before […]

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Promoters and Pre Incorporation Contracts: Understanding the Basics

Understanding Promoters in Corporate Formation In corporate formation, promoters play a crucial role in the initial stages of setting up a company. They are individuals who take the initiative to start a business and are responsible for bringing together the necessary resources to form a company. This section will delve into the role and legal […]

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Do Corporations Get Tax Refund? Explained

Understanding Corporate Tax Refunds When it comes to corporate tax refunds, there are certain basics that need to be understood. Corporations can claim a tax refund if they have overpaid their tax liability for a particular year. The refund can be claimed by filing a tax return with the IRS. In this section, we will […]

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