Business Entities

Articles of Incorporation Articles of incorporation are the formation documents filed to create a corporation under state law. Articles of Organization Articles of organization are the formation documents filed to create an LLC under state law. Beneficial Ownership Information Beneficial ownership information refers to identifying details about the individuals who ultimately own or control a company, when reporting rules require that disclosure. Board of Directors A board of directors is the governing body that oversees a corporation and appoints or supervises officers under corporate law and governance documents. Buy-Sell Agreement A buy-sell agreement is the contract that sets rules for what happens if a business owner exits, dies, becomes disabled, or wants to sell an interest. Bylaws Bylaws are the internal governance rules a corporation uses to define how directors, officers, meetings, and approvals work. C-corp A C-corp is a corporation taxed separately from its owners at the entity level. Disregarded Entity A disregarded entity is a business entity that is separate under state law but ignored as separate from its owner for federal income tax purposes. Distributions Distributions are payments of business value to owners outside ordinary payroll wages, often used in pass-through entities such as S-corps. EIN An EIN, or employer identification number, is the business tax ID issued by the IRS. General Partnership A general partnership is the default partnership form in which partners generally participate directly in the business and share responsibility under the governing law. Guaranteed Payments Guaranteed payments are partnership payments to a partner for services or capital that are determined without regard to partnership income.