What is the process for declaring corporate splits?

Declaring corporate splits is a process that is used when a company wants to divide its ownership among its shareholders in a different way. In New York, corporate splits are usually done by filing a certificate of amendment with the Secretary of State. The amendment must include the company’s name, the purpose of the amendment, the new division of ownership, and the date when the amendment shall take effect. Once the filing is complete, the Secretary of State will review the application and, if approved, issue a certificate of amendment. This certificate is issued as evidence that the corporate split was completed in accordance with state law. Once the corporate split is complete, the company must then file a statement of conversion with the Department of Taxation and Finance. This statement should include the amount of corporate stock that was split off and the effective date of the conversion. Once the corporate split has been successfully completed, the company can begin trading the newly portioned stocks. It is important to remember that corporate splits are only effective when all the paperwork has been properly filed and approved by the state. For this reason, it is important to work with experienced professionals when filing paperwork related to corporate splits.

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What is the process for declaring corporate splits?

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