--- title: Are You on Top of Your Corporate Record Keeping? description: Whether you own a corporation, LLC, or partnership, it’s important to make sure all your corporate records are up-to-date on an annual basis. image: https://blog.mansourgavin.com/hubfs/Stock%20images/Records%20Concept.%20Word%20on%20Folder%20Register%20of%20Card%20Index.%20Selective%20Focus..jpeg --- [![MansourGavinLPA](https://blog.mansourgavin.com/hs-fs/hubfs/MansourGavinLPA%20-Jan2018/Images/mg-logo.png?width=325&height=33&name=mg-logo.png "MansourGavinLPA")](http://mansourgavin.com/) - [ABOUT US](http://mansourgavin.com/about-us/) - [PROFESSIONALS](http://mansourgavin.com/professionals/) - [PRACTICE AREAS](http://mansourgavin.com/practice-areas/) - [BLOG](https://blog.mansourgavin.com) - [NEWS & EVENTS](http://mansourgavin.com/news-and-events/) - [CONTACT US](http://mansourgavin.com/contact-us/) - [ABOUT US](http://mansourgavin.com/about-us/) - [PROFESSIONALS](http://mansourgavin.com/professionals/) - [PRACTICE AREAS](http://mansourgavin.com/practice-areas/) - [BLOG](https://blog.mansourgavin.com) - [NEWS & EVENTS](http://mansourgavin.com/news-and-events/) - [CONTACT US](http://mansourgavin.com/contact-us/) # Blog [![Share on Facebook](https://static.hubspot.com/final/img/common/icons/social/facebook-24x24.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Fblog.mansourgavin.com%2Fare-you-on-top-of-your-corporate-record-keeping%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://static.hubspot.com/final/img/common/icons/social/linkedin-24x24.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fblog.mansourgavin.com%2Fare-you-on-top-of-your-corporate-record-keeping%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://static.hubspot.com/final/img/common/icons/social/twitter-24x24.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Fblog.mansourgavin.com%2Fare-you-on-top-of-your-corporate-record-keeping%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Fblog.mansourgavin.com%2Fare-you-on-top-of-your-corporate-record-keeping%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=Are%20You%20on%20Top%20of%20Your%20Corporate%20Record%20Keeping%3F) [![Share on Email](https://static.hubspot.com/final/img/common/icons/social/email-24x24.png)](mailto:?subject=Check%20out%20https%3A%2F%2Fblog.mansourgavin.com%2Fare-you-on-top-of-your-corporate-record-keeping%3Futm_medium%3Dsocial%26utm_source%3Demail%20&body=Check%20out%20https%3A%2F%2Fblog.mansourgavin.com%2Fare-you-on-top-of-your-corporate-record-keeping%3Futm_medium%3Dsocial%26utm_source%3Demail) # Are You on Top of Your Corporate Record Keeping? [Corporate and Business](https://blog.mansourgavin.com/tag/corporate-and-business) March 24, 2020 | 06: 20 AM By [Katie Weber](https://mansourgavin.com/people/kathryn-e-weber/) It's hard work being a business owner and after the initial formation, many business owners tuck their corporate records into a file cabinet and focus on building their business. However, whether you own a corporation, LLC, or partnership, it’s important to make sure all your corporate records are up-to-date on an annual basis. There are several reasons why it is important stay on top of corporate record keeping. Foremost, the Ohio Revised Code imposes record keeping requirements on all Ohio business entities. The requirements vary depending on the type of entity you formed, but the importance of proper records is the same for the following reasons: Liability Protection: One of the main reasons for forming a business entity in the first place is to have protection from personal liability, often referred to as the “corporate veil.” However, under certain limited circumstances, the corporate veil can be pierced and the individual owners held personally liable. One of the circumstances is whether a company followed the proper record keeping requirements. - Tax Audit: In the event of an audit, it is important that all corporate records are up to date. - Income Tax: Having a complete corporate record book will enable a business to maximize deductions and keep track of important transactions. - Acquisition/Merger/Financing: A potential buyer or lender may want to review the corporate record books as part of the due diligence process. Having a complete and organized corporate record book may increase the value of the business to a buyer and reduce underwriting risk to a lender. Our [Business and Corporate Services Group](https://mansourgavin.com/practice-area/corporate-and-business-services/) would be honored to work with you to ensure your corporate records are (and stay) up-to-date! [Contact us](https://mansourgavin.com/contact-us/) today. - [Tweet](https://twitter.com/share) ### Subscribe to Email Updates ### Related Articles #### [Federal District Court Ruling Declares Corporate Transparency Act Unconstitutional](https://blog.mansourgavin.com/recent-federal-district-court-ruling-declares-corporate-transparency-act-unconstitutional) [Corporate and Business](https://blog.mansourgavin.com/tag/corporate-and-business) March 26, 2024 | 07: 50 AM The U.S. Treasury’s Financial Crimes enforcement network (FinCEN) proposed the Corporate Transparency Act (CTA) in 2021 as part of the National Defense Authorization Act, aimed to combat money [\[… read more\]](https://blog.mansourgavin.com/recent-federal-district-court-ruling-declares-corporate-transparency-act-unconstitutional) #### [How Will Ohio’s Adult Use Marijuana Legalization Impact Your Business?](https://blog.mansourgavin.com/how-will-ohios-adult-use-marijuana-legalization-impact-your-business) [Corporate and Business](https://blog.mansourgavin.com/tag/corporate-and-business) December 01, 2023 | 09: 22 AM On November 7, 2023, Ohio voters approved the initiated statute Ohio Rev. Code § 3780 (R.C. 3780) which provides for the legal sale and use of cannabis (marijuana) by individuals age 21 and over. [\[… read more\]](https://blog.mansourgavin.com/how-will-ohios-adult-use-marijuana-legalization-impact-your-business) ###### Practice Groups --- - [General Civil Litigation](http://mansourgavin.com/practice-area/general-civil-litigation/) - [Corporate and Business Services](http://mansourgavin.com/practice-area/corporate-and-business-services/) - [Real Estate and Land Use](http://mansourgavin.com/practice-area/real-estate-and-land-use/) - [Labor and Employment](http://mansourgavin.com/practice-area/labor-and-employment/) - [Estate Planning and Probate](http://mansourgavin.com/practice-area/estate-planning-and-probate/) - [Environmental](http://mansourgavin.com/practice-area/environmental/) - [Intellectual Property](http://mansourgavin.com/practice-area/intellectual-property/) ###### People --- - [Tyler M. Berry](https://mansourgavin.com/people/tyler-m-berry/) - [Timothy A. Boyko](https://mansourgavin.com/people/timothy-boyko/) - [Charles T. Brown](https://mansourgavin.com/people/charles-brown/) - [James A. Budzik](https://mansourgavin.com/people/james-a-budzik/) - [Diane A. Calta](https://mansourgavin.com/people/diane-a-calta/) - [Anthony J. Coyne](https://mansourgavin.com/people/anthony-j-coyne/) - [Brendon P. Friesen](https://mansourgavin.com/people/brendon-p-friesen/) - [Michele M. Kerling](https://mansourgavin.com/people/michele-kerling/) - [Daniel J. McGuire](https://mansourgavin.com/people/daniel-j-mcguire/) - [John W. Monroe](https://mansourgavin.com/people/john-monroe/) - [Marisa Moody](https://mansourgavin.com/people/marisa-moody/) - [Natalie M. Paolucci](https://mansourgavin.com/people/natalie-Paolucci/) - [Samantha Papagna](https://mansourgavin.com/people/samantha-papagna/) - [Edward O. Patton](https://mansourgavin.com/people/edward-o-patton/) - [Tatyana Pishnyak](https://mansourgavin.com/people/tatyana-pishnyak/) - [Michael P. Quinlan](https://mansourgavin.com/people/mickey-quinlan/) - [Patricia M. Ritzert](https://mansourgavin.com/people/patricia-m-ritzert/) - [Marci Senft](https://mansourgavin.com/people/marci-senft/) - [Scott D. Simpkins](https://mansourgavin.com/people/scott-d-simpkins/) - [Kenneth E. Smith](https://mansourgavin.com/people/kenneth-smith/) - [Kimberly Szabo](https://mansourgavin.com/people/kimberly-szabo/) - [Katie E. Tinnel](https://mansourgavin.com/people/katie-e-tinnel/) - [Adam R. Uth](https://mansourgavin.com/people/adam-r-uth/) - [Cristina Vacar](https://mansourgavin.com/people/cristina-vacar/) - [Kathryn E. Weber](https://mansourgavin.com/people/kathryn-e-weber/) - [Leslie M. Young](https://mansourgavin.com/people/leslie-m-young/) ###### About Us --- - [Our History](https://mansourgavin.com/about-us/#history) - [About Mansour Gavin](https://mansourgavin.com/about-us/#about) - [Careers](https://mansourgavin.com/careers/) - [Online Notary Service](https://mansourgavin.com/online-notary-service/) ###### Social --- - [LinkedIn](https://www.linkedin.com/company/601692) - [Facebook](https://www.facebook.com/MansourGavinLPA/) - [X](https://x.com/MansourGavinLPA) ###### Contact --- **Cleveland** North Point Tower 1001 Lakeside Ave. Suite 1400 Cleveland, OH 44114 Phone: [216.523.1500](tel:216.523.1500) Fax: [216.523.1705](tel:216.523.1705) [»  See Map](https://maps.google.com/?q=1001+Lakeside+Ave%2C+Suite+1400++Cleveland%2C+Ohio+44114) **Independence** 6133 Rockside Rd. Suite 301 Independence, OH 44131 Phone: [216.523.1500](tel:216.523.1500) Fax: [216.523.1705](tel:216.523.1705) [»  See Map](https://maps.google.com/?q=6300+Rockside+Road%2C+Independence%2C+OH%2C+United+States) © 2026 Mansour Gavin LPA. All rights reserved. - [Privacy](http://mansourgavin.com/privacy/) - [Terms of Use](http://mansourgavin.com/legal/) [![Legal Netlink Alliance Logo](https://mansourgavin.com/wp-content/themes/MansourGavin/images/lna-logo.jpg)](http://www.legalnetlink.net/) [![U.S. News & World Report](https://mansourgavin.com/wp-content/uploads/2025/11/Best-Law-Firms-Standard-Badge.png)](https://bestlawfirms.usnews.com/profile/mansour-gavin-lpa/overview/52830) ![Firm Peer Rated](https://mansourgavin.com/wp-content/uploads/2024/08/badge-martindale-hubbell.png) [![Mansour Gavin LPA BBB Business Review](https://seal-cleveland.bbb.org/seals/blue-seal-200-42-whitetxt-bbb-20003639.png)](https://www.bbb.org/us/oh/cleveland/profile/lawyers/mansour-gavin-lpa-0312-20003639/#sealclick)