Jersey City New Jersey Loan Agreement between Stockholder and Corporation
Category:
State:
Multi-State
City:
Jersey City
Control #:
US-02979BG
Format:
Word;
Rich Text
Instant download
Description
The Internal Revenue Service expects that for any loans that are made to a Corporation to be properly recorded on the balance sheet of a Corporation as a Liability under a section called loans from officers/shareholders. Furthermore, there should be proper documentation on the corporation minutes that approves such shareholder loans to the corporation. This loan must be accompanied by some formal interest rate payable on this loan, and a loan period should be specified along with the amount of monthly repayment.
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