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Sure it's a bit philosophical, but so is the idea of an owner's right to privacy. I don't deny a corporation's fiduciary duty to its owners. But the state issu
by legitster 2y ago
Sure it's a bit philosophical, but so is the idea of an owner's right to privacy.
I don't deny a corporation's fiduciary duty to its owners. But the state issuing the corporation isn't bound to the same duty when establishing the legal terms of corporations.
- JumpCrisscross 2y ago> the state issuing the corporation isn't bound to the same duty when establishing the legal terms of corporations The states forming corporations aren’t the ones requiring BOI.
- legitster 2y agoSorry, by "state" here I mean the federal government. The definition and tax status of corporations, LLCs, etc already lie with the Treasury department. My point is that these definitions and requirements do not come from some sort of divine law. A government can always amend the terms of incorporating and it would still be completely within the function of modern capitalism, just as different governments around the world offer different terms when incorporating.
- JumpCrisscross 2y ago> definition and tax status of corporations, LLCs, etc already lie with the Treasury department For tax purposes, yes. For almost everything else, no. State law controls.