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Domestic Corporation Forms. For the purpose of this chapter, the term: (1) "Authorized shares" means the shares of all classes a domestic or foreign corporation is authorized to issue.Frequently asked questions about corporations and business entities. Issuance of shares in classes or series; board action. Each holder of shares must exchange either cash, property, promis- sory notes, or a combination of these items for the shares the corporation issues to them. Contact our office at (401) 222-3040 for further information. Instructions for Filing. Any other business that elects to be taxed as a corporation. Limited liability company (LLC). A CFC (see Category 5 Filers , later, for definition); or.