Form with which a corporation may alter the amount of outstanding shares issued by the corporation.
Change Class Of Shares In Virginia
State:
Multi-State
Control #:
US-0034-CR
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
Amendment of articles of incorporation by the board of directors. A. Where no shares of the corporation are issued and outstanding, a corporation's board of directors may adopt an amendment of the corporation's articles of incorporation without shareholder approval.
Amending a Virginia Corporation Articles of Incorporation Step 1: Determine if you need to file a Virginia corporation amendment. Step 2: Identify and gather the information you need to change. Step 3: File the amendment paperwork with the State Corporation Commission.
This process is most commonly referred to as a 'redesignation', 'reclassification', or 'renaming' of shares. It involves converting issued shares from their existing class, i.e. 'type' or 'classification', to a different one.
Forming a Virginia S Corp Step 1: Come up with a distinguishable name. Step 2: Select a registered agent. Step 3: Submit formal paperwork. Step 4: Apply for an Employer Identification Number (EIN). Step 5: Issue stock. Step 6: Prepare initial documents. Step 7: Elect the tax status.
File form 2553 to apply for S corp tax designation The IRS requires that you complete and file your Form 2553: Within 75 days of the formation of your LLC or C corporation, or no more than 75 days after the beginning of the tax year in which the election is to take effect.
File form 2553 to apply for S corp tax designation When your LLC or C corporation formation is accepted by the state, you need to file Form 2553, Election by a Small Business Corporation, with the IRS to get S corp status.
Steps to converting an LLC to an S corp A statutory conversion is one of the most efficient ways to change entity types. To convert from one entity to another, a document must be filed with the state filing office. A new entity does not need to be formed.
Each corporation other than a public service company, a banking corporation, an insurance corporation, a savings institution, or a credit union shall have power to enter into partnership agreements, joint ventures, or other associations of any kind with any person or persons.