Legal Question in Business Law in California
Legal Powers of S Corporations
What legal powers ar vested on S Corporations in the State of California?.
Asked on 7/13/06, 2:29 am
1 Answer from Attorneys
Bryan Whipple
Bryan R. R. Whipple, Attorney at Law
Re: Legal Powers of S Corporations
An S corporation is a corporation that has made an election to be taxed at the shareholder level rather than at the corporate level. It has the same powers as corporations generally. The powers of a corporation are set forth in its articles of incorporation, and is is nowadays customary for corporate powers to be expressed very broadly, e.g., to engage in any lawful business.
Answered on 7/15/06, 2:13 pm
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