A friend who has three incorporated businesses told me he has one he never used and would sell it to me for $500.00...
It was made in 1998 in california. Im in Nevada. Is this a better way (shortcut) to go about than to make my own? Knowing all the paperwork and time it takes to inc. I see it as a shortcut.
2006-09-07 17:10:42 · 4 answers · asked by assassin110 1 in Business & Finance ➔ Corporations
CAUTION! while it may be inexpensive compared to minimum
$2000 or six months of paperwork, there are many certain CA requirements, including minimum annual board meeting minutes,
and a minimum $800/year corporate tax to maintain status.
Can your 'friend' provide all this for a quick & easy sucker $500?
Why not incorporate in Nevada, where none of these exist?
2006-09-07 17:44:30 · answer #1 · answered by jit 7 · 0⤊ 0⤋
You do not want to buy a business that is incorporated in California unless you are going to be doing business IN California. If you are going to be doing business in Nevada, you need to incorporate in Nevada. Find the Nevada Secretary of State website. They may have the forms and fee schedules listed there, which would show you exactly what it would cost you to incorporate.
2006-09-08 15:39:08 · answer #2 · answered by BarBQer 2 · 0⤊ 1⤋
That is a disaster, no you don't want to do that. California companies have to pay $800 minimum tax each year in California. Nevada is a very good state to incorporate in and its very cheap also only a couple hundred bucks.
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2006-09-08 00:16:50 · answer #4 · answered by Anonymous · 0⤊ 1⤋