5a2367bb_egal_Radio___Free_Legal_Advice__S_Corp
[0] Records and Formalities [Partnership] Must Maintain the Minimum Required Records and keep them in the Office. [Limited Partnership] Must Maintain the Minimum Required Records and keep them in the Office. [Limited Liability Company] Must Maintain the Minimum Required Records and keep them in the Office. [C-Corp] Must Maintain the Minimum Required Records and keep them in the Office. Formal corporate recordkeeping is not necessary for a close corporation and may even be considered burdensome. May dispense with corporate formalities such as holding meetings of shareholders or directors and the conduct of their affairs by other arrangements made in the shareholders’ agreement. [S-Corp] 
Must maintain formal corporate records. Minutes of board meetings, bylaws, complete set of books, records, and accounts. Failure to do so will results in fines of $25.00 per day.
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S-Corp