[sc name="mybutton"] New Jersey Corporate Kit What is a corporate kit and how do you use it? A corporate kit...
November 4, 2021What 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. New Jersey Corporate kits usually contain examples of financial data, tax returns and agreements with customers or vendors.
The contents of the New Jersey Corporate Kit are documents that meet the legal requirements for your business. New Jersey 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:
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.
The New Jersey 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.
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 New Jersey 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.
Every company needs its own set of rules by which to abide, and corporate Bylaws are the definition of these foundational guidelines. Corporations, LLCs, Non-profits, Partnerships can all be categorized under this banner. These guidelines for business entail defining the membership agreement rigidly so that no single member creates conflict with any other member or employee. Everything from policies to meeting procedures is outlined in detail, making it necessary that you seek professional help to write these documents if you aren’t skilled.
A stock certificate is a legally binding document that certifies you are the registered owner of a set of shares within a corporation. A stock certificate proves ownership, transferable only by you, organized under the laws of the state your company is located in. Stock certificates are created with complex art designs to make them difficult to reproduce and include your name, business name, identification number, the number of shares or percentage of ownership you have in the company, the corporate seal, and signatures from authorities.
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 New Jersey 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 New Jersey, Spiegel & Utrera, P.A. can customize a new state-specific company records book and seal for the state you qualify in.
There are different Corporate Kits to choose from for each type of business entity, such as LLC’s, Corporations, and Non-Profit Corporations.
The New Jersey Kit discusses such issues such as:
Since many licensing authorities require company documents over time, the New Jersey Corporate Kit is essential to substantiate the information.
The New Jersey 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 New Jersey Corporate Kit.
Banks and creditors ask to review components in a Corporate Kit in order to qualify a company and decide whether to lend money. They may ask to review your New Jersey Corporate Kit to satisfy their requirements.
When seeking funding, investors may want to view company documents in your New Jersey Corporate Kit. If you are not able to provide this kit for them, they are less likely to support the deal. A comprehensive kit includes items such as book and seal, stock certificates, minutes, and other organizational aids.
Yes, even INCLUDES Attorney’s Fee (No Hidden Attorney Fees).
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