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Old 23rd March 2005, 04:06 PM   #1
bobbyg223
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Question New Business Question

Hi everyone! My name is Bobby and Iím new to this site. I am in the process of forming a new Landscaping business in NJ as an S-Corporation. I am in the middle of filing for my Original Business Certificate using the Public Records Filing for New Business Entity, which I have to send to the Division of Revenue. Here is where I have my question. The application asks me to list my total shares that i must declare as a corporation. I really have no idea what is a normal, recommended or standard amount of shares for my given assets. I am currently not very large, and only own about $6,000 in assets. I understand that nobody will be able to give me specifics, which is not what Iím concerned about, I just want some general advice or to know what might be standard. What are common ratios of shares per values of assets? I have done all my research on everything else I need to do to officialize my business and this is my only remaining question. I have successfully avoided the costs of getting advice from an attorney or an accountant. Any help or advice I could get from anyone at this site would be greatly appreciated.

Bobby

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Old 23rd March 2005, 04:28 PM   #2
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All I can add is that my CPA told me to issue myself 1,000 shares at $1 each since I am (and plan to continue to be) the sole stockholder.

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Old 24th March 2005, 12:33 PM   #3
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Same advice as Karon only I own 51 shares and my wife who is the other owner owns 49. I took one more than her so I could have veto power over her. <hee hee>

I don't think you really need to worry about the amount of shares (past 100) and the value when you or you and your spouse are the sole owners. Of course you may want to consult your own local corporation commission or agency.

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Old 25th March 2005, 12:56 PM   #4
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In my corporation, we have 50,000 shares outstanding and they are "no par" (don't carry any value)

Michele

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