a corporation is chartered under
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- Original conversation. User: A corporation a. is chartered under state laws. b. is chartered under federal laws. c.remains in existence only as long as its owners are alive. d. shifts liability of its debts to its owners.riginal conversation. User: A corporation a. is chartered under state laws. b. is chartered under federal laws. c.remains in existence only as long as its owners are alive. d. shifts liability of its debts to its owners.
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What is a 'Corporate Charter' Corporate Charter. What is a 'Corporate Charter'. A corporate charter — simply referred to as charter or articles of incorporation — is a written document filed with a U.S. state by the founders of a corporation detailing the major components of a company such as its objectives, its structure and its planned operations.
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Corporate law Under corporate law, corporations of all sizes have separate legal personality, with limited or unlimited liability for its shareholders.orporate law is a part of a broader companies law (or law of business associations).
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- The word chartered has several meanings: 1. A charter (noun) is a contract to hire something, like a ship of aircraft, for a special purpose. Hence a chartered aircraft is… one specially hired for a particular purpose.
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Required Officers for a Corporation A corporation is a legal person that can be created under state law. As a person, a corporation has certain rights and obligations, including the right to do business in its own name and the obligation to pay taxes. Some laws use the words natural persons.. A natural person refers only to human...
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Where Is a Corporation Domiciled? Incorporation is the process by which a corporation is recognized as a separate legal entity under state law. To incorporate, the founders must draft articles of incorporation and file those with the relevant state agency – often the commerce department or Secretary of State – and pay any required filing fees.inally, the choice of where to incorporate will determine the amount of state taxes paid by the corporation, and state tax rates vary greatly. The state of incorporation is the domicile of the corporation.
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- Inc. is the abbreviation for incorporated. A corporation is a separate legal entity from the person or people forming it. Directors and officers purchase shares in the business and have responsibility for its operation. Incorporation limits an individual's liability in case of a lawsuit.
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Statutory corporation Their precise nature varies by jurisdiction thus they might be ordinary companies/corporations owned by a government with or without other shareholders, or they might be a body without shareholders which is controlled by national or sub-national government to the (in some cases minimal) extent provided for in the creating legislation.
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What is a statutory corporation? Best Answer: (m) A Statutory Corporation is a corporation created by statute. Statutory corporations are often government owned or part owned businesses and may return dividends to Government. Source(s): http://en.wikipedia.org/wiki/Statutory_C... statutory corporation is not necessary a state-own-enterprise which will pay dividend, and in most of the time, it is a charity, a church. For example, the Scout Association of Hong Kong is a statutory corporation created under Scout Association of Hong Kong Chapter 1005.
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- While corporations do not have a constitution, they have articles of incorporation and bylaws. These sets of rules define how the corporation is to be run and the different roles of the shareholders, directors and corporate officers. However, business circumstances may change, requiring a corporation’s rules to be amended. Relevant links Incorporation Overview Check Incorporation Pricing View Incorporation Sample Product Comparison
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controller chartered accountant - a British or Canadian accountant who is a member of a professional body that has a royal charter accountant, comptroller, controller - someone who maintains and audits business accounts
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Federally-Chartered Corporations and Federal Jurisdiction These federally-chartered corporations include such public and quasi-governmental entities as Fannie Mae and the FDIC, but many federally-chartered corporations are private business corporations that compete directly with state-chartered companies.
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The Difference Between an S and a C Corporation Many refer to C corporations simply as corporations. A C corporation pays taxes under Chapter C of the IRS tax code, which is where the name comes from. That means the corporation itself is a legal entity that is liable for its own debts and pays its own taxes. The owners of a C corporation are called shareholders and remain protected from liability for company actions.
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Nonprofit corporation For a broader coverage related to this topic, see Nonprofit organization. A nonprofit corporation is any legal entity which has been incorporated under the law of its jurisdiction for purposes other than making profits for its owners or shareholders.
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corporate charter Definition. A document, filed with a U.S. state by a corporation's founders, describing the purpose, place of business, and other details of a corporation. also called articles of incorporation or charter.
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- Confidence votes 12.6K. 'Incorporation' is the legal process whereby a 'corporation' is created. A corporation is a legal entity and is often referred to as an 'artificial person.' The corporation has an existence separate and apart from the person or persons who were involved in having it created.
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Forming a Corporation In forming a corporation, prospective shareholders exchange money, property, or both, for the corporation's capital stock. A corporation generally takes the same deductions as a sole proprietorship to figure its taxable income. A corporation can also take special deductions. For federal income tax purposes, a C corporation is recognized as a separate taxpaying entity. A corporation conducts business, realizes net income or loss, pays taxes and distributes profits to shareholders.
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Chapter 1701: GENERAL CORPORATION LAW The articles of incorporation or bylaws of the corporation require that an action taken by shareholders without a shareholders' meeting must be taken by all shareholders of the corporation. 3. The corporation is an issuing public corporation, as defined in section 10-2701, unless otherwise provided in its articles of incorporation or bylaws.
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Definition of a Corporation In general, a corporation is formed under state law by the filing of articles of incorporation with the state. The state must generally date-stamp the articles before they are effective. You may wish to consult the law of the state in which the organization is incorporated.
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Chartered Surveyor Chartered originates from the Royal Charter granted to the world's first professional body of surveyors.Chartered Surveyors are entitled to use MRICS after their names.n order to become a Chartered Surveyor, trainees must undertake a degree accredited by the RICS and pass the Assessment of Professional Competence. Occasionally RICS withdraws accreditation of degree courses.
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Incorporation (business) Incorporation is the forming of a new corporation (a corporation being a legal entity that is effectively recognized as a person under the law). The corporation may be a business, a non-profit organization, sports club, or a government of a new city or town. In the United States, there are many ways that a corporation can be identified. 2  The four forms that are valid in all 50 states and the District of Columbia are Corporation, Incorporated, and the abbreviations Corp. and Inc..
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C Corporation C corporations are subject to double taxation; that is, one tax at the corporate level on the corporation's net income, and another tax to the shareholders when the profits are distributed. S corporations have only one level of taxation.All of their income is allocated to the shareholders. corporations are subject to double taxation; that is, one tax at the corporate level on the corporation's net income, and another tax to the shareholders when the profits are distributed. S corporations have only one level of taxation. All of their income is allocated to the shareholders.
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DEFINITION of 'Charter' Articles Of Incorporation. A corporation's charter, once issued by the government of jurisdiction, will vary in structure depending on the country in which it's issued. legal document that provides for the creation of a corporate entity. A corporation's charter is issued by either a federal or a regional government and effectively creates a legal entity out of the business, which existed only as a partnership, sole proprietorship or similar business before incorporating.
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- Jupiterimages/Comstock/Getty Images. The terms “corporation,” “incorporation” and “nonprofit” refer to the formation and structure of legal entities. A corporation is an entity that the law treats as a “person.” Incorporation refers to the actions that form a corporation.
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Definition of a Corporation Definition of a Corporation. In general, a corporation is formed under state law by the filing of articles of incorporation with the state. The state must generally date-stamp the articles before they are effective.
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- Definition of corporation. 1  1a : a group of merchants or traders united in a trade guild (see guild 1)b : the municipal authorities of a town or city. 2  2 : a body formed and authorized by law to act as a single person although constituted by one or more persons and legally endowed with various rights and duties including the capacity of succession.