Legal Q & A

For Karen’s Coffee & Counsel “Q & A” this week, a Chamber member asks if she is required to make a filing with the state about how she initially capitalized her corporation? ANSWER: No filing is required, but you should place a memo in your official corporate book spelling out exactly how and in what percentage capitalization of the corporation occurred; by depositing cash, transferring property to the business, or services were performed in exchange for ownership shares. Feel free to submit your corporate law questions or contact my office today.