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The essay defines and elaborates public companies. It explores the formation of public companies ownership among other issues.
|language || ||english
|wordcount || ||1943 (cca 5.5 pages)
|contextual quality || ||N/A
|language level || ||N/A
|price || ||free
|sources || ||0
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Preview of the essay: public companies
PUBLIC COMPANIES These companies must have a minimum membership of seven and there is no minimum number. There are freely transferable usually through the Nairobi stock exchange. Shares and debentures are open for public subscription. Certificates of trading and annual audit of accounts are compulsory. They have a minimum of two directors in each and they may as well have limited or unlimited liability. FORMATION OF A COMPANY It is required to furnish the register of companies by those who intend to form a joint stock company. The documentation to be furnished are as follows. ...
... don’t control the company directly. Their control is very direct and this may lead to a dangerous situation if the boar’s decisions aren’t viable.
6) Taxation - The Company is a taxable entity for income tax purposes. The company pays tax separately from the owners, co-operations tax is also levied on the net profit of the company and earnings distributed to shareholders in form of individuals are also taxed. This will amount to double taxation because the same profit belongs to the shareholders is taxed twice
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