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OpenAI is one step closer to becoming a for-profit company. The AI startup is in preliminary talks with California's attorney general's office, Bloomberg reported. A for-profit structure would be ...
The California Department of Corporations (DOC) was a department within the former California Business, Transportation and Housing Agency in California. The chief officer of the Department was the Commissioner of Corporations. Effective July 1, 2013, the Department of Corporations and the Department of Financial Institutions became divisions of ...
AA Berle and GC Means, The Modern Corporation and Private Property (1932) Book I, ch IV, 64 The Wall Street Crash saw the total collapse of stock market values, as shareholders realized that corporations had become overpriced. They sold shares en masse, meaning many companies found it hard to get finance. The result was that thousands of businesses were forced to close, and they laid off ...
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
The secretary of state of California is the chief clerk of the U.S. state of California, overseeing a department of 500 people. The secretary of state is elected for four year terms, like the state's other constitutional officers ; the officeholder is restricted by term limits to two terms.
S corporations pay a franchise tax of 1.5% of net income in the state of California (minimum $800). This is one factor to be taken into consideration when choosing between a limited liability company and an S corporation in California. For highly profitable enterprises, the LLC franchise tax fees (minimum $800), which are based on gross ...
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