For-Profit Corporation General StockUnited States · California
What it takes to form, own and run a private limited company in United States · California, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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The owners of the corporation are not liable for the losses of the businesses
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so long as the corporation has only one shareholder, the number may be one
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so long as the corporation has only one shareholder, the number may be one
The registry’s and the law’s own pages do not mention it.
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Corporations, including qualified personal service corporations, figure their tax by multiplying taxable income by 21% (0.21).
Form it
Who registers it
- Registry
- Formed without visiting
- Not stated
The registry’s and the law’s own pages do not mention it.
- Formed online
- Yes
What it takes to form
Not in our records A notary, A resident director, Paying up the capital: none of these is in our records for the For-Profit Corporation General Stock.
Own it
Who may own and run it
- Directors
- At least 1 · individuals only
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so long as the corporation has only one shareholder, the number may be one
- Shareholders
- At least 1
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so long as the corporation has only one shareholder, the number may be one
- Members
- At least 1 · one person may form it alone
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so long as the corporation has only one shareholder, the number may be one
- A local company secretary
- Not required
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A corporation shall have (1) a chairperson of the board, who may be given the title of chair of the board, chairperson of the board, chairperson, or a president or both, (2) a secretary, (3) a chief financial officer
- A local registered agent
- Required
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An agent for service of process is an individual who resides in California, or a registered 1505 corporate agent, designated to accept service of process
Each year, at the registry
- Annual registry fee
- USD 25 (about €22)
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This form is due within 90 days of initial registration and every year thereafter.
- Accounts on the public record
- Not stated
The registry’s and the law’s own pages do not mention it.
- Audit for a small company
- Not required
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if there is no report, the certificate of an authorized officer of the corporation that the statements were prepared without audit from the books and records of the corporation.
- Audit
- Not in our records
Important dates
When each obligation falls due, as the authority states it.
- First Statement of Information
- 90 days after incorporation
With California Secretary of State (bizfile Online)
- Statement of Information every year, in the filing window of the registration month and th
- Each year, on the anniversary of incorporation
With California Secretary of State (bizfile Online)
The window is the registration month and the preceding five months; the anniversary rule is the closing edge.
What is public
- Directors
- Public
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The names and complete business or residence addresses of its incumbent directors.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Flat+4 regimes
Federal 21% on taxable income plus California 8.84% (other than banks and financial institutions), with an $800 minimum franchise tax; an S election makes the entity pass-through federally and 1.5% in California. Applies to the general stock corporation.
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Corporations, including qualified personal service corporations, figure their tax by multiplying taxable income by 21% (0.21).
Special regimes that may apply
- Deduction for foreign-source portion of dividends received from specified 10-percent owned foreign corporations holding · 100% exempt
Domestic corporations that are United States shareholders of a specified 10-percent owned foreign corporation, on dividends received from it 26 U.S.C. § 245A(a) - Deduction for foreign-derived intangible income and global intangible low-taxed income other · 37.5%
Domestic corporations with foreign-derived intangible income, and with GILTI included under section 951A 26 U.S.C. § 250(a)(1) - Alternative tax on qualifying shipping activities tonnage
Electing corporations engaged in qualifying shipping activities 26 U.S.C. § 1352 - Qualified opportunity zones free zone
Taxpayers with eligible gains who invest them in a Qualified Opportunity Fund holding property in a designated zone 26 U.S.C. § 1400Z-1 (designation) and § 1400Z-2 (deferral and exclusion), enacted by the Tax Cuts and Jobs Act of 2017, Public Law 115-97
Whether a company qualifies depends on its activity and conditions set in each statute.
- CFC rules in United States
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Dissolution by filing an Election to Terminate and a Termination (only the Termination if all outstanding shares vote to dissolve) online with the Secretary of State.
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California Stock Corporation: File online at bizfileOnline.sos.ca.gov Election to Terminate – CA Corporation and Termination – CA Corporation, unless the election to dissolve is made by the vote of all the outstanding shares, in which case only the Termination – CA Corporation is required
- Statutory fee
- Free
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Note: There is no filing fee associated with submitting a termination document to the Secretary of State.
Every business in United States · California
Sales and consumption tax
- The tax
- Sales tax (state and local)
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you can elect to deduct state and local general sales taxes
- Standard rate
- Set by the states or provinces
There is no national VAT or sales tax; rates are set by each state and locality.
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you can elect to deduct state and local general sales taxes
- Registration threshold
- Not in our records
- A foreign company
- See the note
Sales tax is administered by state and local authorities, not the federal government, so there is no national registration rule to record.
- Tax authority
- Internal Revenue Service (IRS) at federal level; sales tax is administered by state and local authorities
Portals and registers
- Business registerNone — state-level business registries; no single national registry
- Tax authorityInternal Revenue Service (IRS)
- Tax treatiesUS Department of the Treasury - Tax Treaties
Payment and banking services
6 services name United States on their own list: Paysera, Airwallex, Stripe, Revolut, Brex, Mercury. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Private limited companyDerived our grouping, the same words in every country
- Name in law
- For-Profit Corporation General Stock
- ISO 20275 code
- H1UMSecondary GLEIF, Entity Legal Forms code list