Tax Consequences of Formation. Neither a corporation, a partnership, nor an LLC is ordinarily taxed on the receipt of capital contributions (whether of cash, property, or services) by shareholders, p
Pass-Through Entity. The income and losses of an S corporation generally flow through to, and are taxed to or deducted by, the shareholders, retaining the character they had to the S corporation. No
What Works Are Protected? Copyright protects “original works of authorship” that are fixed in a tangible form of expression. The fixation need not be directly perceptible so long as it may be communi
Copyright Secured Automatically upon Creation Copyright is secured automatically when the work is created, and a work is “created” when it is fixed in a copy or phonorecord for the first time. “Copie
It is not true that a corporate entity is fully formed with the filing of the Articles of Incorporation. There are formation requirements and annual requirements that are commonly referred to as corporate governance. Reaching through the corporate entity to attach personal assets may occur.
Liability Protection The reason for forming a corporate entity in the first place is to have the liability protection if the corporation is sued and so that the corporation can sue in its own name.