Pennsylvania Corporate Kit

What is a corporate kit and how do you use it? A corporate kit includes your most important records and can help avoid fines, penalties, and legal action. Pennsylvania Corporate kits usually contain examples of financial data, tax returns and agreements with customers or vendors.

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What’s inside a Pennsylvania Corporate Kit?

The contents of the Pennsylvania Corporate Kit are documents that meet the legal requirements for your business. Pennsylvania Corporate kits also comprise records that are critical when dealing with matters like court proceedings, raising capital, contracts, taxes, and accounting, transferring ownership, as well as the rules and policies of your business. The corporate kit includes:

Articles of Incorporation – Pennsylvania

A legal document that solidifies the existence of a business entity within a state is an article of incorporation. Along with corporate bylaws, the articles outline the jurisdiction of a corporation, as granted by the state government which typically includes the name of your corporation, its purpose, the type of business it is, where its physical location can be found, and reception members.

Corporate Seal and Book

The Pennsylvania Corporate Seal is your business’ personal stamp; an imprint of your company with three main purposes. Firstly, it authorizes and legitimizes stock or membership certificates. Secondly, it is used to produce official paperwork like legal documents and contracts, leases and agreements, employment contracts, loan documents, minutes, operating agreements, and other company records. Finally, the corporate seal may be used if you need to verify signatures on higher-prestige signings within your business.

Company Minutes

Corporate Minutes is the term used for the notes that a secretary records in and of the meetings held by the board of directors, owners, members, officers, or shareholders. A secretary or assigned person will write a record of every decision, outcome, or resolution discussed in that meeting as “minutes” and collect them in the Pennsylvania Corporate Kit. The corporate minutes may be required in significant business matters such as IRS audits, raising capital or borrowing money, by an accountant to prepare taxes, or by an attorney in court proceedings—among many other matters.

Corporate Bylaws

Corporate Bylaws in a Pennsylvania Corporate Kit dictate the set rules of a corporation. Every business requires rules and guidelines in which to operate, regardless of type; LLC, Corporations, Non-profits, Partnerships. Business entities have coinciding titles for Bylaws; Partnerships have what is called a partnership agreement, LLC’s write an operating agreement, but the constituents are similar to that of corporate Bylaws. Bylaws are a complicated legal document and not something you should try to do yourself if you aren’t well-versed in its many legal complexities and implications.

Membership or Stock Certificate

A stock certificate is a legal document declaring that you own shares of stock within a corporation. A stock certificate certifies that you are the registered owner of a certain number of shares or a percentage of the company, transferable only by you, and organized under the laws of the state. Pennsylvania Corporate Kit stock certificates are usually created with complex art designs to keep them from counterfeit reproduction. It includes your name, business name, identification number, the number of shares or percentage of ownership, the corporate seal, and signatures from authorities such as the president or treasurer.

Preliminary Name Search – Pennsylvania LLC or Corporation

It is important to choose a business name that is uniquely distinguishable. If your competition has already trademarked their name, you may be forced to choose a different, cost-saving option without the help of our attorneys. Alternatively, our attorneys provide you with a preliminary search and help you to identify and pick an acceptable business name using our Pennsylvania Corporate Kit.

Important! When Qualifying Your Business in another state, you will not be able to use the same corporate kit. If you qualify your business in Pennsylvania, Spiegel & Utrera, P.A. can customize a new state-specific company records book and seal for the state you qualify in.

Corporate Kits for LLC’s, Corporations, and Non-Profits

There are different Corporate Kits to choose from for each type of business entity, such as LLC’s, Corporations, and Non-Profit Corporations.

For-Profit Corporation Records Book & Seal Kit includes:

• Completed Corporate Records Book and Seal
• Slip Case Cover
• Corporate Organizational Minutes and Resolutions
• Corporate By-Laws
• Corporate Ownership Register
• Banking Resolution
• Stock Certificates

Limited Liability Company Records Book & Seal Kit includes:

• Completed Company Records Book and Seal
• Slip Case Cover
• Company Organizational Resolutions and Minutes
• Company Regulations
• Company Ownership Register
• Company Banking Resolution
• Company Membership Certificate

Non-Profit Corporation Records Book & Seal Kit includes:

• Completed Corporate Records Book and Seal
• Slip Case Cover
• Corporate Organizational Minutes and Resolutions
• Corporate By Laws
• Stock Certificate

The Importance of a Corporate Kit

The Pennsylvania Kit holds great importance for a variety of business and legal matters, including:

Licenses

Since many licensing authorities require company documents over time, the Pennsylvania Corporate Kit is essential to substantiate the information.

IRS Audits

The Pennsylvania Corporate Kit is the most complete business record-keeping tool one can have. Should an audit occur, its contents will likely be required. There are situations where the IRS and state taxing authorities may want to review your Pennsylvania Corporate Kit.

Borrowing Money

Banks and creditors perform strict due diligence to qualify a business before lending money. They may ask to review components of your Pennsylvania Corporate Kit to satisfy their requirements.

Investors

Many investors might want to view documents within your Pennsylvania Corporate Kit before they invest in your company. If you cannot provide this, they may be less willing. Having a professional and organized Pennsylvania corporate kit with book and seal, stock certificates, minutes, and other material will give investors the transparency they want to make them feel good about the deal.