What image comes to mind when you hear the term “annual shareholders meeting”? What image does it conjure up in your mind? Is it an impressive gathering of powerful figures from industry giants such as Amazon, Exxon and Apple?
You might think of a local businessman like Jim who runs a small landscaping company from his home.
Many small business owners choose to incorporate their businesses, usually by creating a S Corporation or C Corporation.
The primary reason they do so is to protect their personal assets against potential liabilities arising from business. The C Corporation is also attractive to businesses of all sizes because the corporate tax rate has been reduced.
Even if you have a single person as a member of your C or S corporation, it is important to adhere to the administrative requirements for corporations in your state. These requirements require the holding and documentation of board and shareholder meeting.
