VRS Corporate Maintenance Program
“What do I do after I form a corporation?”
“What deadlines do I have to meet?”
“What are the rules and regulations on corporate documents?”
These are all common questions many have, and the experienced business and corporate attorneys at VRS are here to help answer them.
Corporate Records and Legal Compliance
Whether you are incorporated in California or qualified to do business in California you are required to act pursuant to the authority of the California Corporations Code which requires a corporation to meet certain statutory obligations.
These obligations include, but are not limited to annual filing deadlines, annual shareholder meetings, annual director meetings, issuing stock, and adopting bylaws, a copy of which should be maintained at the California principal place of business.
Failing to maintain corporate records and failing to meet filing deadlines can unfortunately expose your corporation to unmitigated risk. Which is why it is imperative to implement corporate maintenance into your compliance structure.
Why Does Corporate Maintenance Matter?
Running a business is hard, and when facing the daily duties and responsibilities of operating a successful business filing dates and corporate records and documents tend to become secondary. However, this is an integral responsibility because noncompliance can lead to a fee or penalty from the Franchise Tax Board, suspension from the California Secretary of State which would prohibit you from legally doing business in the state as well as maintain the right to use your business name, or sell, transfer, or exchange real property. Additional prohibitions may apply.
Moreover, a corporation that fails to maintain necessary corporate records and meet necessary filing and reporting requirements may also face a variety of IRS issues, and expose a shareholder or shareholders to personal liability.
VRS’ Corporate Maintenance Program
With such daunting risks on businesses, we here at VRS implemented a successful Corporate Maintenance Program for our Corporate client (LLCs included) and are currently accepting clients for the 2022 calendar year!
Our skilled attorneys ensure the the integrity of your company by maintaining a corporate book with the necessary corporate documents and records, annual filing fees and reports, as well as preparing annual shareholder and director minutes or consents. By joining the Corporate Maintenance Program, you are able to implement an effective compliance structure as well as alleviate unnecessary administrative burdens.