We’ve seen it one too many times. Start-Ups will incorporate their company, get to work on building their vision and put everything else on the back burner. Either for lack of business activities, lack of time or lack of thought, some things will slip through the cracks and sooner or later corporations are slapped with penalties or even worse, their businesses radiated from the registry. As such, we compiled a short list of the most important yearly obligations of a business. From filing your taxes, to filing your annual return to updating your minute book. Completing these requirements every year will ensure that your business does not have to pay additional penalties, taxes or even more so, ensure that your business stays alive.
Here’s what you should be doing each year:
1. Preparing the financial statements and filing the corporate tax return
2. File the Sales Tax Return (GST/QST)
3. File the annual return at the corporate registry
4. Update the corporation’s minute book
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Chalati Lawyer, with its head office located at 200-2205 boul. de la Côte-Vertu, Saint-Laurent, Quebec, H4R 1N8. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Chalati Lawyer or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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