b'LEGALLY SPEAKING CSIA 25T heNLRBregulatesprivatesectorIndiana - www.in.gov/sosworkplacesunion and non-union alike. It is attempting to make numerous dramatic Is the corporation doing business in any changes on how employers much conductother state?Is it appropriately registered themselves.Herearesomeofthechangesyouand meeting the requirements to do need to know to avoid costly claims.business in those states?Schedule your annual corporate meetings Is the annual financial report, including a for shareholders and directors; give noticebalance sheet, statement of profit and loss in accordance with your bylaws/code ofand surplus, and an opinion of the financial regulations; set the agenda for the meeting. position of the corporation being prepared? Review your corporate minute book to Do the corporate records verify payments make sure it is up-to-date; are last yearsof salaries versus bonuses and dividends? minutes in there and are they signed?Did the IRS can contend that payments the minutes call for certain actions to beto corporate officers or employees or taken during the year and have these itemsshareholders are not deductible dividends been accomplished?Do the minutes ratifyand that payments to its officers who are corporate actions, such as contributions tonot shareholders are not deductiblebetter benefit plans, borrowing, auto leasing andassure the proper classification of such monetary distributions? payments by identifying the payments as deductible compensation and considerHas there been a change in the officers,identifying the justification.directors or shareholders?Do the corporate records reflect those changes?Do others If no, or nominal, dividends are to be paid, need to be elected? and your corporation has a large amount of accumulated earnings, do the minutesAre there shares of stock needing to beinclude a statement of the reasons why the transferred or canceled?Is your shareearnings are being retained? CENTRAL STATES INSULATION ASSOCIATIONledger in the back of the minute book up-to-date? Have you changed financial institutions during the year and not noted it withinIs the statutory agent designated to receivethe corporate records?Are those who important papers current and on file withare authorized to sign checks still the the Secretary of State?check the Statesappropriate names and are the appropriate website.corporate resolutions contained within the minute book? Is your corporation in good standing with the State?check the States website Have there been loans to officers or shareholders needing to be documented by Ohiohttp://www.sos.state.oh.us/ minutes and promissory notes?What about PPP funding?West Virginiahttp://www.sos.wv.gov/ Do you have a buy/sell agreement which Kentucky - www.sos.ky.gov regulates and restricts the transfer of shares so you dont end up with an unwanted continuedon pg. 27csiaonline.org'