Do I organize to issue stock to him at the initial stock issuance, at our first board meeting? Or, is it best to issue founder stock and then issue him stock afterwards? We are a newly formed Nevada C-Corp.
This is probably something better discussed with your accountant, but there is no difference between "founder stock" and "non-founder stock." The relevant factors are class of stock, whether voting or not, dividend rules and date issued (this last primarily for voting purposes). I believe the simplest method is simply to issue all of the discussed stock at once, but again run that by your tax person. Incidentally, your C Corp status is an IRS distinction; Nevada Secretary of State does not care. The stock handling is essentially the same, other than tax reporting.
My colleagues comments are on point. An additional thought, you might want to reconsider your reason for a C-Corp. A C-Corp is rarely a good choice for small business. Not only is there double taxation, the current marginal corporate tax rate is probably higher than you would pay in another form. In addition, you can't just issue stock. In a C-Corp capital stock is properly issued for consideration paid or given to the corporation to determine basis in the stock. A CPA may help, but they are not trained in the legal issues of forming and operation a business entity or the rights and remedies of members. Think of this as a business prenuptial. You need Bylaws or an operating agreement that fits your needs. What happens if you die, does your interest go to the other shareholder or to your wife? To structure the business, you should really spend a couple of hours or so with a business or tax attorney for advice and drafting. Good luck with your enterprise.
Years licensed, work experience, educationLegal community recognition
Peer endorsements, associations, awardsLegal thought leadership
Publications, speaking engagementsDiscipline