Updating alberta corporation
As of February 2019, the Government of Alberta now emails a Corporate Annual Return form to all Alberta Incorporations the month before the Corporate Annual return is due.It’s important to fill this out and email it to us so that we can file your return.The ABCA generally is considered to be a more modern statute and modelled more closely to the U. ABULC shareholders are to be jointly and severally liable with the ABULC for its liabilities, acts or defaults to an unlimited extent.The content of this article is intended to provide a general guide to the subject matter.If you get in the habit of papering meetings right away and keeping your corporate records up to date, it really will not be as onerous as you might think.This article was originally published in Blakes Bulletin on Cross-Border Tax - May 2005 Article by Doug Richardson and Wanda Rumball, 2005, Blake, Cassels & Graydon LLP Amendments to the Business Corporations Act (Alberta) (the ABCA) providing for the incorporation of unlimited liability corporations are now law.It is extremely important to keep excellent paper records.
In a recent op-ed piece published in the National Post, an author suggested that estate freezes should be legislated out of existence since it inappropriately provided the "rich" with the ability to escape taxation.
A well organized Minute Book might be divided into the following sections, each containing the documents listed and with an accompanying index: In addition, for ease of reference, you might want to include a list of current officers and directors as well as any foreign qualification documents and the company’s tax I. Many companies will keep an electronic minute book, using a cloud-based service to store and share materials.
If your company does that, you can use a file structure organized as described above.
Not only is it expected that ABULCs will have immediate popularity for those seeking to incorporate new hybrid entities, but also that many NSULCs may convert themselves to ABULCs by continuing under the ABCA. Practitioners should note that the shareholder liability provisions for ABULCs are different from those that apply to NSULCs.
While the relatively low tax rates enjoyed in the province of Alberta (note also that there are no provincial capital or sales taxes of general application), the strong business community and levels of commerce in Alberta and the high administrative and incorporation fees charged under the NSCA are expected to fuel the demand for ABULCs, many consider that ABULCs may be preferred over NSULCs because of the differences between the governing statutes. NSULC shareholders have unlimited liability to the creditors on the wind-up of an NSULC if the assets are insufficient to pay its debts and liabilities on dissolution.After this initial document is filed, the company can only act through its Board of Directors Bylaws.