NJ Corporate Dissolutions Required
It is essential that the corporation be dissolved with the New Jersey State Treasurer through the Division of Revenue to avoid future Corporation Business tax, penalty, and interest. Every corporation subject to the New Jersey Corporation Business Tax Act must file New Jersey Corporation Business Tax Returns whether the corporation discontinued…
Creating a Profits Interest in an S Corporation
Assume Glenn and Art are equal shareholders in Allen, Inc., an S corporation. Bob is employed by Allen and manages one aspect of its business, but not all business is conducted by Allen. All of the parties would agree to give Bob a profits interest as incentive for performance and…