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S corporations pay a franchise tax of 1.5% of net income in the state of California (minimum $800). This is one factor to be taken into consideration when choosing between a limited liability company and an S corporation in California. For highly profitable enterprises, the LLC franchise tax fees (minimum $800), which are based on gross ...
Judicial dissolution, informally called the corporate death penalty, is a legal procedure in which a corporation is forced to dissolve or cease to exist. Dissolution is the revocation of a corporation's charter for significant harm to society. [ 2 ]
De facto corporation and corporation by estoppel are both terms that are used by courts in most common law jurisdictions to describe circumstances in which a business organization that has failed to become a de jure corporation (a corporation by law) will nonetheless be treated as a corporation, thereby shielding shareholders from liability. [1]
An oppressed minority shareholder can ask the court to dissolve the corporation or hold the corporation's leaders accountable for their fiduciary responsibilities. [8] Another remedy sometimes used is the court-ordered purchase of shares. [9] As of 1997, the European Union still had not harmonized laws for dealing with shareholder oppression. [10]
The Department of Corporations was originally known as the "State Corporation Department" and was created by the "Investment Companies Act". [1] Governor Hiram Johnson appointed H.L. Carnahan as California's first Commissioner of Corporations in 1914. The Investment Companies Act faced immediate opposition but was approved by the voters in a ...
It began a stretch of eight mergers with other S&Ls starting in December 1980, [5] [6] during which it changed its name to Great American Federal Savings and Loan Association in 1982. [7] The name change reflected their business going from four offices in San Diego County in 1970 to over 100 statewide after the completed mergers.
According to Robert Sobel, First Executive was involved in 90% of Drexel's underwritings, which accounted for about $40 billion in bonds from 1982 to 1987. After the State of California took over Executive Life, it sold the company's junk-bond portfolio to Altus Finance, a unit of Crédit Lyonnais , in November 1991 for $3.25 billion.
This list of California companies includes notable companies that are, or once were, ... Actuate Corporation; AdGreetz; Adobe Inc. Advanced Micro Devices; AECOM;
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