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Incorporation Glossary

MAXIMUM SHARES

The articles of incorporation must state the maximum number of shares that can be issued by the corporation. If additional shares are required, the articles of incorporation will need to be amended. There is no maximum on the number of shares that can be authorized. Be advised that some states, including Delaware and Nevada, based their initial filing or annual corporation tax on the number of authorized shares -- the maximum number of shares that the corporation is authorized to issue, NOT the actual number of issued shares.