The moral or legal person is a fictitious person capable of exercising the rights and acquiring the obligations to carry out activities that cause full legal responsibility. This allows to affirm that legal persons are, in the strict sense, a product of law and there is only reason for it, that without its recognition they will never have moral or material responsibility that are abstract products of the law that allows communities judicially to fulfill the objectives drawn by its members.
What is a moral person
Table of Contents
A moral person is an individual who exists physically and at the same time has obligations and rights as if it were an institution. This image, also known as a legal entity, can be made up of one or more natural persons, and is empowered to gain rights and acquire obligations.
Legal persons do not necessarily coincide with the space of the natural person because it is broader and allows actions with full legal validity of entities formed by groups of people or companies. The fundamental criticism of the experts falls on the fact that he calls it a natural person who also has this responsibility to act actively in the system. An example legal person may be a for-profit partnership or a union.
Characteristics of the legal person
A legal person or legal entity is characterized by the following:
- They have responsibilities, which they must assume in the exercise of their activity.
- They have a visible, real, physical or natural existence, which will cease with the legal dissolution of the constituent entity.
- It acquires rights, which it may exercise in order to fulfill the objectives of its creation.
- They must be administered based on the laws on which they were founded and their articles of incorporation.
- They can only have one nationality.
- They have no marital status.
- They are intangible.
Types of legal persons
There are two large groups, which are:
General legal entities
They are commercial companies and professional civil associations for profit, which may consist of decentralized organizations that offer goods and services, productive cooperative societies or credit institutions.
General legal persons are: public limited companies, companies in collective name, limited partnerships, limited partnerships by shares, limited liability companies and cooperative companies.
Non-profit legal entities
They are those that do not have the objective or purpose of generating profits for the services they provide and are constituted by civil companies. An example of this are the organizations that carry out social work.
This type of legal person can be classified into civil partnerships and civil associations.
Attributes of legal persons
Capacity
A legal person has the capacity to be the holder of its duties and acquired rights, as well as to have a passive or active position within a legal relationship.
Name
They must have a name that defines them, which is also known as a company name. This data distinguishes a legal person from others. They will also have a company name, which is a kind of pseudonym, which is the name through which the organization will be announced.
Home
It is the place to which the establishment of the administration of the legal entity corresponds, being at the same time the place where the obligations must be fulfilled. This will serve to receive notifications, establishment by which the legal acts and compliance with the payment of the pertinent contributions will be carried out.
Heritage
It is the set of goods that a moral person possesses, which can be translated into money and can be both in currency or in objects such as tools or raw material to produce. The patrimony will be what will allow a legal person to develop.
nationality
It refers to the territory where a legal person was born and established. This will be subject to the laws and statutes established by the nation regarding the fulfillment of obligations and will enjoy the rights that the territory grants it.
Annual corporate tax return
Every legal person must comply with an annual tax return known as Income Tax (ISR). This must be done between January and March of the year following the declaration. For this, you must have a legal person RFC, which is a key that every person must have to carry out any economic activity.
The deferred corporate income tax in tax consolidation must be carried out as follows: 25% during the fiscal year in which the deferred payment must be made; 25% during the second fiscal year; 20% during the third fiscal year; 15% during the fourth fiscal year; and the other 15% during the fifth fiscal year.
This must be paid at the Tax Administration Service (SAT). The SAT legal entity must calculate the income tax generated, for which the Income Tax Law in articles 9, 64, 72, 74 and 200 must be taken as a basis.
