By retaining assets with a low basis or appreciation potential outside the corporation and passing those assets through an estate, the incorporator
eliminates pre-death gain from a subsequent sale of the asset by his or her heirs.
Since the incorporators
knew what we were doing, it wasn't about keeping the incorporators
in the dark,'' she said.
Upon creating a corporation, incorporators
sometimes transfer in-kind assets to the corporation in exchange for shares of stock, especially if an existing sole proprietorship or partnership is being incorporated.
Also, to the extent any liabilities unrelated to the partnership's business are transferred to the corporation, all liabilities conveyed will be considered to give rise to taxable boot to the incorporators
According to Securities Department officials, a filing would be necessary before any such sale unless there are seven or fewer incorporators
We incorporated the program," remembers van den Berg, one of the original incorporators
It moved that year to South Ashland Avenue in Chicago, but many of the original incorporators
felt the company's headquarters should move out of Chicago altogether.
He currently serves as a Trustee of Our Lady of the Elms College, Chairman of the Chicopee Chamber of Commerce, a member of the Board of Incorporators
of the Mason Wright Foundation of Springfield, MA and a member of the Board of Directors of the Regional Employment Board also located in Springfield, MA.
And they say trustees and incorporators
have been fully informed that Higgins administrators and trustees were exploring a merger with another institution.
8 with Caroline Ford, Rod's wife, listed as the registering agent and no other incorporators
In Bledsoe, the corporate minutes showed that in exchange for 10,000 of its shares, the company received $10,000 from its incorporators
, including $252,000 was later paid to the corporation by the incorporators
, but these payments were not designated as payments for the 10,000 shares.
In response to the initiative and an outgrowth of the United Fishermen of Alaska, the group's incorporators
include former Gov.
Fantini Research has launched Fantini Incorporators
to provide incorporating and related services.
The museum's incorporators
voted in March to transfer the collection to the Worcester Art Museum; financial struggles forced the agreement.
Because state law requires individual persons to file as incorporators
, RTB's CEO and controller were listed as Subco's incorporators