Without the proper company record keeping, as required by
law:
Your company will be treated as no company at all and the
assets, liabilities, and tax structure will be recast to your personal estate.
A really great attorney may be able to help your company,
should problems arise, but it will probably cost you plenty when you need really quick or
intensive service from him.
Any disputes between stockholders, directors, and or
officers of your company may not be easily handled without documented meeting minutes
showing the desires of the directors and/or stockholders.
You probably will have no protection from personal
liability unless you have a viable company which has complied with all State and Federal
laws
The IRS will treat your company as no company at all,
recasting the company tax returns to your own returns and denying some of the benefits
your corporation or LLC is giving to you and your employees
and, you can be subject to daily fines of $25.00 per day,
for non - compliance, if, for example, your company was formed, in Nevada. Other states
may be even greater per day penalties. Here's theNevada law regarding penalties.
Do the company record keeping yourself, have
someone do it for you, or have Nevada Legal Forms & Books, Inc. do
it for you, but protect yourself and make sure it gets done now or you may find out that
all those fees you have paid your state were just a waste of money !!!!!!!!!!
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