Incorporation
Corporations are legal entities and are treated as an individual. Corporations are taxed at a lower tax rate than individuals. If you operate a business it may be appropriate to incorporate. One of the benefits of incorporating is limiting the liabilities of the owners. If the business is sued the owners or Shareholders are not generally liable. In certain circumstances the Officers or Directors of a Corporation may be liable for their statutory obligations such as remitting statutory deductions to the government and the like.
For further information regarding Incorporations contact Murray & Thomson.
Corporate Reorganization
It may be appropriate to restructure a Corporation as a result of changed circumstances. For example, the original Shareholders may wish to bring in new Shareholders however the new Shareholders are not able to purchase the assets of the original Shareholders or the original Shareholders wish to maintain an interest and involvement in the business. There are a variety of ways of reorganizing the corporate structure to accommodate the desires of the Shareholders. Murray & Thomson is well able to prepare the necessary Agreements to facilitate corporate reorganizations.
For further information regarding Corporate Reorganization contact Murray & Thomson.