"Authorized shares" refers to the number of shares the corporation is allowed to issue under its certificate or articles of incorporation. Authorized stock is the maximum number of shares that a corporation is legally permitted to issue, as specified in its articles of incorporation.This form is for general instructions that apply to all corporation tax forms. It includes a variety of topics about how to fill out your form. Authorized shares are the maximum number of shares that a company is permitted to issue to investors, as laid out in its articles of incorporation. Authorized shares are the maximum number of shares a company can issue, while outstanding shares are the number of shares that have already been issued. Authorized shares, or authorized stock, are simply a legally allowed maximum number of shares that a company can issue to investors. Filling out and submitting the request in LogiCole, then ordering an approved piece of equipment in DMLSS.