What is the name of your state? Washington
I want to incorporate my business. I have three partners. What I want to do is issue us our shares with the exemption (under 35 members and are working for the company and are owners) When I incorporate and issue the shares to the incorporators/owners I have to file the type of shares, par value of shares, and how the shares will be payed for. Can I assign a par value (such as $2 per share) and have them paid for by services rendered (like instead of salary or other services to the company) rather than having them paid for in cash. What I want to do is use shares for Venture capitol but I don't want to have to pay a lot for them because we don't have a lot of money. So I want us to have lots of shares to use and to set whatever price we want on them for venture capitol reasons. Is it better to go with nonpar value shares in this case and how do we determine value and payment when issuing them to the owners at the outset. I am so confused
Jason
I want to incorporate my business. I have three partners. What I want to do is issue us our shares with the exemption (under 35 members and are working for the company and are owners) When I incorporate and issue the shares to the incorporators/owners I have to file the type of shares, par value of shares, and how the shares will be payed for. Can I assign a par value (such as $2 per share) and have them paid for by services rendered (like instead of salary or other services to the company) rather than having them paid for in cash. What I want to do is use shares for Venture capitol but I don't want to have to pay a lot for them because we don't have a lot of money. So I want us to have lots of shares to use and to set whatever price we want on them for venture capitol reasons. Is it better to go with nonpar value shares in this case and how do we determine value and payment when issuing them to the owners at the outset. I am so confused
Jason