incorporationquebec
-
A newly created corporation must register for various accounts with the Canada Revenue Agency and Revenu Québec. The first account, which is mandatory for all corporations doing business in Canada, is the income tax account (file in Quebec). This account facilitates the filing of tax returns and should be opened immediately following incorporation. If the corporation is federally incorporated, a federal business number -
The formalities provided for by law must be respected when shares are issued, whether for an initial issue following the incorporation of the company or any other subsequent issue. These formalities are the same under both Quebec and federal law. It should be noted first that a share issue is a contract between the share subscriber and the corporation. The subscriber, by way of a subscription letter
-
The authorised share capital of a corporation may provide for several classes of shares. In this case, the articles of the corporation will provide, for each class of shares, rights and restrictions associated with the shares of these classes. The first class, often referred to as Class "A" of the share capital, is the class of shares known as "ordinary shares". Upon incorporation of a corporation and the issuance of the first
-
The LLC (Limited Liability Company) is a specific legal vehicle in the United States. The first state in the United States to enact legislation allowing the creation of an LLC was Wyoming in 1977. Since it is not incorporated, the LLC is to some extent similar to a sole proprietorship and a partnership. In addition, from a tax perspective, it is the owners of the LLC who are taxed at the personal level. However, as the corporation
-
When it comes to transferring shares, whether by sale, donation or otherwise, it is important to respect the rules set out in the law in order to have a valid transfer. For corporations incorporated under Quebec law, the rules surrounding transfers are set out in the Securities Transfer Act, while for federal corporations, the rules are set out directly in the Canada Business Corporations Act
-
The fact of holding the office ofdirector within a corporation implies its share of responsibility. In fact, both corporate and tax laws provide for various cases where directors incur personal liability for the company's obligations. For example, both the Business Corporations Act and the Canada Business Corporations Act provide that the directors of the corporation are jointly and severally liable to the employees
-
Transfers of shares, by sale, gift or otherwise, often occur between persons with family ties, particularly within family businesses. In such transactions, it is important to comply with the provisions of the tax laws (both federal and provincial) in order to avoid undesirable tax consequences. The Income Tax Act provides that a person who disposes of property to a person with whom
-
One of the major differences between the Canada Business Corporations Act (CBCA) and the Quebec Business Corporations Act (QBCA) is that the CBCA prohibits the issuance of shares that have not been fully paid for in cash, property or services. To this effect, section 25(3) of the CBCA states: "No shares may be issued until they have been fully paid for in cash or in property or services rendered of which
-
When the time comes to incorporate a business, it is necessary to decide under which law the company will be incorporated: the Quebec law (Business Corporations Act, hereinafter referred to as the "QBCA"), or the federal law (Canada Business Corporations Act, hereinafter referred to as the "CBCA"). Although the two incorporation acts are generally very similar, they each have their own particularities. Locations of the company's business and head office It
The information contained in the articles on the IncorporationQuebec.net website does not constitute legal opinions, and is only general information intended to popularise certain legal concepts relating to company law or SME taxation. The information contained in the articles may not be applicable to certain specific cases. Pronto Corporate Services Inc. and the author of the texts are not responsible for any error, inaccuracy or out-of-date information that may be contained in the articles.
April 20, 2021
A newly created corporation must register for different accounts with the Canada Revenue Agency and Revenu Québec. A first account, which is
March 1, 2021
There are legal formalities that must be complied with when issuing shares, whether it is for an initial issue following the incorporation of the
October 28, 2020
The authorised share capital of a corporation may provide for several classes of shares. In this case, the company's articles of association will
October 25, 2020
The LLC (Limited Liability Company) is a specific legal vehicle in the United States. The first US state to enact legislation allowing the creation of an LLC was the
October 20, 2020
When it comes to transferring shares, whether by sale, donation or otherwise, it is important to respect the rules laid down by the law
October 12, 2020
The position ofdirector in a corporation implies a lot of responsibility. Indeed, both the corporate laws and the
September 12, 2020
Transfers of shares, by sale, gift or otherwise, often occur between people with family ties, especially within family businesses.
August 11, 2020
One of the major differences between the Canada Business Corporations Act (CBCA) and the Business Corporations Act (Quebec) (QBCA) is that the CBCA
July 22, 2019
When the time comes to incorporate a business, it is necessary to decide under which law the company will be incorporated: the Quebec law (Business Corporations Act),