An Ontario corporation is a legal entity that is created and regulated by state laws. For legal, practical, and tax purposes, a corporation is legally separate from any of the people who own, control, manage, or operate it. If you want the advantages of having a corporation, you must follow legal requirements for running it. If you don’t abide by the rules, you could find your business stripped of its corporate status—and the benefits of that status, such as:
Limited liability. Corporate directors, officers, and shareholders usually are not personally liable for the debts of the corporation. This means that if the corporation cannot pay its debts or other financial obligations, creditors cannot usually seize or sell a corporate investor’s home, car, or other personal assets.
Business taxes and ﬂexibility. A corporation is a separate taxable entity. Business income can be sheltered in the corporation among the owner-employees as they see ft to reduce their overall tax liability.
Employee fringe benefits. Owner-employees of a corporation are eligible for deductible fringe benefits, such as sick pay, group term life insurance, accident and health insurance, reimbursement of medical expenses, and disability insurance.
Commercial loans and capital investment. Lending institutions often give the risk-conscious corporate lender special preferences. Corporations can decide to raise substantial amounts of capital by making a public oﬀering of their shares.
Business credibility. Corporations have an air of reputability about them. In other words, although placing an “Inc.” after your name will not directly increase sales, it forces you to pay serious attention to the structure and organization of your business, something that is likely to improve all aspects of your business.
Perpetual existence. A corporation has an independent legal existence that continues despite changeovers in management or ownership. Of course, like any business, a corporation can be terminated by the mutual consent of the owners.
Access to capital. Private and public capital markets prefer the corporate form over all other business forms, giving the corporation enhanced access to private and public capital. Public oﬀerings can be made by means of a traditionally underwritten initial public oﬀering (IPO) or a direct public oﬀering (DPO) of shares by the corporation itself to its client or customer base.
Ontario Corporate Minute Books in 10 Minutes
Ontario Corporate Minute Book. A corporate minute book is used to store all important corporate documents such as the articles of incorporation, the minutes of shareholders and directors meetings, stock certificates, tax filings, by-laws, and other legal documents.
Benefits of a Corporate Minute Book
Benefits of a Minute Book – For ease of management, efficiency, and security, it is vital that these important corporate documents are kept in a single location so that it can be easily consulted when the need arises.
Why do I need a minute book?
In order to keep your Ontario corporation in good standing with the Ontario business corporation act, It is essential to keep a history of all important decisions that are made in the company and to demonstrate that the company is acting as a corporation. For example, if you want to sell your company in the future, the buyer’s lawyer will normally ask to see a copy of the minute book. Also, if there is a dispute about a company matter, the minutes can act as an official record of events.
What kind of minute book services we provide
We provide a personalized Ontario corporate minute book in MS Word and PDF format that includes:
Register of Directors
Resignation of Director Form
Appointment of Corporate Officers
Resignation of Officer Form
Subscription of Shares
Register of Shareholders
Consent and waiver for allotment of shares
Directors’ resolutions approving the allotment of shares
Consent and waiver for transfer of shares.
Shares Transfer Form
Directors’ Resolutions Approving Transfer of Shares
Notice of Organizational Meeting of Incorporators and Directors
Waiver of Notice of Meeting of Incorporators and Directors
Minutes of Organizational Meeting of Board of Directors
Waiver of Notice First Meeting of Shareholders
Minutes First Meeting of Shareholders
Notice to Directors of Regular Board Meeting
Minutes Shareholders Annual Meeting
Minutes Regular Board Meeting
Order today your new Ontario Corporate Minute Book