Does a sole shareholder of an S-Corp that is issuing himself shares of
stock
from the newly formed corp has to draft and execute a promissory note for
consideration for the transfer of shares, or can he just make a resolution
to issue said shares to himself and that is that?
Thank you.
If nothing more than a resolution is necessary, can I please have 500 shares
in this new business? I think it might make money someday and I'd like to
be able to sell out then and make a profit.
Gene E. Utterback, EA
