Without 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 and tied
up in probate should something happen to you or one of your officers.
Your heirs will have to untangle at great cost and time
the recasting of your company into your personal estate should you die without getting the
corporate records straight with your signature where required. A really great attorney may
be able to help your family, but it will probably cost them a bundle.
It may be impossible to get Minutes, By-laws,
Resolutions, Medical Plans, Notices, etc. signed at a later date should there be any kind
of disagreement between stockholders or officers that ends up in any kind of legal battle.
You have no protection from personal liability unless
you have a viable (non veil piecing company)
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.
Here's the Nevada law regarding penalties.
Do the company record keeping yourself, have someone do it
for you, or have Legal Forms - Pahrump 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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