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Do corporations owe legal duties to shareholders and employees?
Wiki User
∙ 10y ago
yes
Wiki User
∙ 10y ago
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Legal duties for employers and employees under the CDM?
sorry dont no :(
What is the goal of corporation?
Corporations are stand alone perpetual legal entities whose 'western' legal objective is profit maximization. Additional suggestions would be also to look after the welfare of all stake holders not just shareholders (i.e. employees, customers, state, environment etc., etc., etc.) The stake holder theory is starting to take ground especially after the debacle of 2007/8.
How does double taxation of a corporate income occur?
Income to the corporation, as a legal "person", is taxable against the corporation. When the treasury pays dividends from its income to its shareholders, the dividend is taxable again as "income" to the shareholders. A "subchapter S-corporation" avoids this by skipping the corporate taxes and directly taxing the shareholders for any corporate income.
Profit maximizers sometimes argue that corporate are adequately controlled by legal rules. explain how the social responsibility advoctes respond to this assertion?
Social responsibility advocates disagree withÊclaims that corporations are adequately controlled by legal rules. They point out how the laws are set up in such a way that corporations have tax loopholes, and that many have set up top management bonus structures in such a way that it harms employees. The corporations which benefit their employees and communities do so because of independent decisions, not because there are laws in place which make them do so.
How do partnerships and corporations differ in accounting?
the main difference is that the earnings of the partnership pass directly to the owners/partners of the business. A corporation is a seperate legal entity and are taxed seperately and the earnings are only passed to the owners/shareholders when dividends are paid.
When does a corporation need a board of directors?
A corporation can be defined as a firm that meets certain legal requirements to be recognized as having a legal existence, as an entity separate and distinct from its owners . Corporations are owned by their stockholders (shareholders ) who share in profits and losses generated through the firm's operations , and have three distinct characteristics
When does a corporation needs a board of directors?
A corporation can be defined as a firm that meets certain legal requirements to be recognized as having a legal existence, as an entity separate and distinct from its owners . Corporations are owned by their stockholders (shareholders ) who share in profits and losses generated through the firm's operations , and have three distinct characteristics
How can a directors can be remove?
Artticles of Amendment Directors are elected to their positions by the shareholders of the corporation. The shareholders have the legal power to remove directors.
What is the important of the company?
The company policy manuals give information about the company history, its mission, and procedures. It gives employees vital information on safety, their duties, and legal and ethical issues.
What has the author Demetra Arsalidou written?
Demetra Arsalidou has written: 'The impact of modern influences on the traditional duties of care, skill, and diligence of company directors' -- subject(s): Directors of corporations, Legal status, laws
What does separate legal personality mean?
Incorporated companies have separate legal identities from there directors and member (shareholders). They are recognized as legal persons.
How Can I Pick A Legal Business Structure?
The State Bar offers an introduction to which legal entity suits your company, but it is recommended that you consult an attorney and/or tax professional in deciding. Once you have made the decision, the employees of the Corporations Division from the Secretary of State can help with the entire process of formation.
