Earlier this year, a Mississippi woman was sentenced to eight years in federal prison and ordered to pay $1.4 million in restitution to a Tennessee bank and two Oklahoma companies after she was convicted of embezzling money from all three companies. The employee handed direct payroll deposits and diverted money to her bank account and those of members of her family over an extended period of time.
In a previous post, we discussed the importance of choosing the right type of entity for your new or growing business. From shielding assets, to determining control of the business, to tax issues, many factors go into deciding which corporate form is right for your business. Many similar issues are considered when choosing whether your entity will be incorporated in Mississippi or another state, such as Delaware.