http://www.edegan.com/mediawiki/index.php?action=history&feed=atom&title=For_Profit_Corporation 2026-06-02T19:56:14Z Revision history for this page on the wiki MediaWiki 1.34.2 http://www.edegan.com/mediawiki/index.php?title=For_Profit_Corporation&diff=31322&oldid=prev 2016-01-14T22:57:15Z

<p>New page: A corporation is a legal person with the characteristics of limited liability, centralization of management, perpetual duration, and ease of transferability of ownership interests. The own...</p> <p><b>New page</b></p><div>A corporation is a legal person with the characteristics of limited liability, centralization of management, perpetual duration, and ease of transferability of ownership interests. The owners of a corporation are called “shareholders.” <br /> <br /> <br /> The persons who manage the business and affairs of a corporation are called “directors”.&lt;sup&gt;1&lt;/sup&gt; A For-Profit Corporation must register with the Texas Secretary of State. <br /> <br /> <br /> Choosing the best management structure for your corporation, should you pursue this formation, is a decision you should make under the advisement of an attorney. Please note that what is referred to as an “S” corporation is not a matter of state corporate law, but rather a federal tax election. A for-profit corporation elects to be taxed as an “S” corporation by filing for this status with the Internal Revenue Service. Please contact the IRS and/or competent tax counsel regarding the decision to elect to file as an “S” corporation for federal tax purposes. This is not a matter that is handled by the Texas Governor’s Office.&lt;sup&gt;2&lt;/sup&gt;<br /> <br /> <br /> Corporations are subject to a state franchise tax. The filing fee for a certificate of formation for a for-profit corporation is $300. <br /> <br /> <br /> <br /> &lt;sub&gt;1 However, state corporate law does provide for shareholders to enter into shareholders’ agreements to eliminate the directors and provide for shareholder management. &lt;/sub&gt;<br /> <br /> &lt;sub&gt;2 A for-profit corporation is governed by titles 1 and 2 of the Texas Business Organizations Code. Title 1, chapter 3, subchapter A, of the Texas Business Organizations Code governs the formation of a for-profit corporation and sets forth the provisions required or permitted to be contained in the certificate of formation.&lt;/sub&gt;</div>

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