In light of the potential negative impact on the community

Assignment Help Operation Management

Reference no: EM132244460

As you will learn in reading the chapter material, there are several circumstances that can “trigger” a state government’s right to involuntarily dissolve a corporation headquartered in its state, including: 1) the corporation fails to pay taxes within 60 days of the government-imposed deadline; 2) the corporation fails to submit its annual report to the secretary of state within 60 days of the report’s due date; 3) the corporation does not have a registered agent or office in the state for 60 days or more; 4) the corporation fails to notify the secretary of state within 60 days that its registered agent and/or registered office has changed; or 5) the corporation’s duration, as specified in its articles of incorporation, has expired. Arguably, many of the described “triggering events” are technicalities, and “inquiring minds” might wonder why a state government would make such a drastic decision to revoke a corporate charter, especially when it would jeopardize the livelihood of corporate employees, as well as future corporate tax payments to the state. The absence of those corporate tax dollars could jeopardize government social programs, which could negatively affect scores of citizens who need access to those programs.

Question:

In light of the potential negative impact on the community, how readily should a state government use its involuntary corporate dissolution right?

Reference no: EM132244460

Questions Cloud

Actually intended to be used by someone other than the owner : Which of the following is actually intended to be used by someone other than the owner?

The foreign corrupt practices act : The North American Free Trade Agreement has resulted in. The Foreign Corrupt Practices Act.

What is the most common intentional cyber-related tort : What is the most common intentional cyber-related tort? Common carriers are not liable for:

Process of deciding optimal order quantity of shampoo packs : You are in the process of deciding the optimal order quantity of shampoo packs for a hotel.

In light of the potential negative impact on the community : In light of the potential negative impact on the community, how readily should a state government use its involuntary corporate dissolution right?

Do you know the mission and vision of your organization : What exactly is a mission statement? A vision statement? Do you know the mission and vision of your organization?

Technology force most workers to be continuous learners : How does the widespread use of information and communication technology force most workers to be continuous learners?

Insurance company chain with central inventory operation : Thomas Kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation.

True concerning the arbitration of international disputes : Which is not an institution of the European Union? Which of the following is not true concerning the arbitration of international disputes:

User Account

All Pages