Merger Merger occurs when one corporation is taken over by another. A written record which details the events of the corporation. These records should be kept in the corporation's or LLC's record book. The name of a corporation or LLC must be distinguishable on the records of the state government. A name can be reserved, usually for 120 days, by applying with the proper state authorities and paying a fee.
Most states allow no-par stock.
If the stock is no-par stock then the amount of stated capital is an arbitrary amount assigned by the board of directors. Further, the value of capital for franchise tax purposes is determined by the state and this may result in higher franchise taxes in comparison with low par-value stock. Corporation A corporation organized for some charitable, civil or other social purpose which does not entail the generation of profits for shareholders. These corporations receive special tax treatment. O - Officers People who are appointed by the directors.