A key agenda item at an Annual Shareholder Meeting of a California Corporation or California SCorp is the review of financial statements. The forms constitute the bulk of those necessary for the day to day keeping of the corporate formalities in a California corporation.Most states require that S corporations keep meeting minutes. Here's what you need to know about minutes, why you should keep them, and how they should be kept. California requires you to complete and file a form exclusive to the state to operate your small business as an S corp. California requires you to complete and file a form exclusive to the state to operate your small business as an S corp. The owners may be issued stock certificates to serve as proof of ownership in the corporation. The state requires that the agent resides in the state and has a physical California address. To have a California S corporation, you'll need to create either a limited liability company (LLC) or a C corporation (the default form of corporation)