A mission statement is used by a company to explain in simple and concise terms the purpose(s) of its existence.
Usually it is one sentence or a short paragraph explaining the corporate culture, values and ethics.
Mission statements serve several purposes, including employee motivation and investor confidence in the company’s future.
To write a mission statement, consider how your company impacts clients, donors, investors, or your community and why you are committed to helping those parties.
The mission statement may overlap slightly with other marketing content, but it is distinct from a vision statement, value statement, brand name, or slogan.
Choice 83(b) is an Internal Revenue Code (IRC) provision that gives an employee or startup founder the ability to pay taxes on the total fair market value of the restricted shares at the time of grant.
External economies of scale - these are factors that contribute to the development of business, which are manifested outside the company, but within the same industry.
The Federal Unemployment Tax Act (FUTA) is a law that imposes a payroll tax on any business with employees; the income generated is used to fund unemployment benefits.
A franchise tax is a fee paid by certain businesses that want to do business in certain states. Contrary to what the name implies, a franchise tax is not a franchise tax.
A legacy clause is a provision that allows people or organizations to follow the old rules that once governed them instead of the new ones, often for a limited time.