Cross-State Corporate Expansion Quiz
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Questions and Answers

Can a corporation formed in one state automatically do business in any other state?

  • No, it must register or qualify to do business in other states. (correct)
  • Yes, it can do business in any other state without any additional requirements.
  • No, it can only do business in neighboring states without registration.
  • Yes, it can do business in any other state for a limited period without registration.

What is the general requirement for a corporation formed in one state to do business in another state?

  • It must obtain a separate tax identification number for the other state.
  • It must register or qualify to do business in the other state. (correct)
  • It must pay a one-time fee to the other state.
  • It must appoint a new board of directors for the other state.

What is the implication of a corporation not registering to do business in a state where it operates?

  • It cannot be sued in that state's courts.
  • It may face penalties and be unable to bring a lawsuit in that state. (correct)
  • It is exempt from paying taxes in that state.
  • It is not subject to any state laws in that state.

What is the general requirement for a corporation formed in one state to do business in another state?

<p>Registering to do business in the other state (A)</p> Signup and view all the answers

Can a corporation formed in one state automatically do business in any other state?

<p>No, it needs to comply with the other state's regulations (D)</p> Signup and view all the answers

What is the implication of a corporation not registering to do business in a state where it operates?

<p>It may face legal penalties and fines (C)</p> Signup and view all the answers

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