When does a corporate officer become a shareholder?
When does a corporate officer become a shareholder?
When corporate officers perform a service for the corporation and receive or are entitled to payments, those payments are considered wages. The fact that an officer is also a shareholder does not change this requirement. Such payments to the corporate officer are treated as wages.
Who are the sole shareholders of S corporation?
Purported “loans” from S corporation to its sole shareholder, officer, and director, were wages for purposes of FICA and FUTA taxes. The loans were unsecured demand notes bearing no interest, loans were made entirely at the discretion of shareholder, and the shareholder regularly performed substantial, valuable services for taxpayer.
Who are the Board of directors of a corporation?
In some cases, a corporation may require that the shareholder hold a minimum number of shares or that the shares be held for a certain period of time before allowing a shareholder to inspect the corporation’s books and records. A corporation is governed by a board of individuals known as directors who are elected by the shareholders.
Is the Arizona Corporation Commission open to the public?
In addition, all meetings with Commission employees are by appointment only. Business Filings: Effective 3/26/2020 our Corporate Filings and Records counters to the public will be temporarily closed. Customers will be able to complete most business filings online and you will be able to fax or mail filings, as usual.
When corporate officers perform a service for the corporation and receive or are entitled to payments, those payments are considered wages. The fact that an officer is also a shareholder does not change this requirement. Such payments to the corporate officer are treated as wages.
Purported “loans” from S corporation to its sole shareholder, officer, and director, were wages for purposes of FICA and FUTA taxes. The loans were unsecured demand notes bearing no interest, loans were made entirely at the discretion of shareholder, and the shareholder regularly performed substantial, valuable services for taxpayer.
How to register for the Arizona Corporation Commission?
To receive alerts for your business register at eCorp.azcc.gov. Please call 602-542-3026 with questions for the Corporations Division. Check here to sign up for Notices and Agendas for Commission Meetings, Hearings and Appearances. Please call 602-542-3931 with any questions.
Where is the Corporation Commission in Phoenix AZ?
Arizona Corporation Commission 1200 W. Washington Street Phoenix, AZ 85007