Nevada Corporations & Privacy

[corporatebabble]

I'm in California and would like to set up a Nevada corporation, primarily for the ability to set up nominees for personal privacy.

According to this article, http://findarticles.com/p/articles/mi_m5072/is_18_22/ai_62217707, it appears a Nevada corporation may not be the way to go.

"Under California law, if an out-of-state corporation has more than 50 percent of the average of its property, payroll and sales in this state, and if more than 50 percent of its voting stock is held by people with addresses in California, the corporation must comply with California corporate law as if it were incorporated here."

Is there a way around this? I reside in California and will be the only officer in the company.

Bottom line, I'm seeking personal privacy through incorporation. If anyone can offer advice on how I might accomplish this through a Nevada corporation or otherwise it would be greatly appreciated.

Thank You!

 

[dallas702]

I don't know how much "privacy" you are seeking, but it varies with the subject. If you're talking about liability NV isn't too much different than anywhere else. If you're talking about taxes...that's entirely different. NV has no state tax on corps, and doesn't share info with the feds (or didn't the last time I had one going). But, you still need to do your fed taxes properly to be safe.

Kalifornia has become one of the most obnoxious states in the U.S. when it comes to sucking money from every source possible. The law you cited is a pos, but you can work around it. There are several "enterprises" in NV that offer creation, filing, and assistance with NV corps for people like yourself. They will even provide NV resident officers so other states will not be able to tax your money. I don't know if I can post them here, but they can be found with a search, and I'll be glad to pass them on if you email me through the site or give me your email.

Do you not know anyone in NV who will set this up with you? NV corp filings are very inexpensive and simple. What does CA want...two NV residents corp officers to take the "burden" off you? I was born in CA; grew up through school and entry into the military (thanks, Viet Nam) there; and have most of my family there...even a trust...but I will not return there because of the financial rape they now perpetrate on its residents. Check out http://www.sos.state.nv.us/ click on "commercial recordings".

 

[corporatebabble]

Thanks Dallas, and yes I am looking for personal references to companies that help you incorporate in Nevada.

An Internet search pulls up more choices than I know what to do with, so if you or anyone here has personal experience with a company... let me know. I'd appreciate it!

 

[seniorjudge]

Thanks Dallas, and yes I am looking for personal references to companies that help you incorporate in Nevada.

An Internet search pulls up more choices than I know what to do with, so if you or anyone here has personal experience with a company... let me know. I'd appreciate it!

Any incorporation in any state is public information.

 

[corporatebabble]

Seniorjudge,

While the incorporation is public, as I understand it, Nevada law allows a corporation to list nominess in the place of the actual company offiicers thereby keeping the true list of corporate officers private. Is that not accurate?

 

[dallas702]

I hesitate to make an absolute recommendation, but NCP used to do a sponsored show before my radio show. They talk a good product as all of them do, but I can't remember what their costs and long-term service are.

Pick several and do a search with their name and keywords like "complaints", "problems" or "lawsuits", or even "scams". The ones with complaints that have been brought to the web are generally to be viewed with suspicion. There may be a rating site like the one for all the real estate gurus (http://www.johntreed.com/Reedgururating.html).

 

[corporatebabble]

Thanks Dallas702! I'll check out NCP, I assume you're referring to these guys... http://www.nvinc.com/.

If anyone else has experience with a financial planning service that specializes in Nevada Corporations, let me know, I'd love to hear what you have to say.

FYI, I was also referred by another poster to this group, http://nchinc.com/. I called them today and am extremely impressed by their service and professionalism. Unfortunately, they're the most expensive group I've come across. So, that said, I'm not 100% convinced they're the one's for me.

 

[seniorjudge]

Thanks Dallas702! I'll check out NCP, I assume you're referring to these guys... http://www.nvinc.com/.

If anyone else has experience with a financial planning service that specializes in Nevada Corporations, let me know, I'd love to hear what you have to say.

FYI, I was also referred by another poster to this group, http://nchinc.com/. I called them today and am extremely impressed by their service and professionalism. Unfortunately, they're the most expensive group I've come across. So, that said, I'm not 100% convinced they're the one's for me.

I think you're being scammed.

Get a Nevada attorney to help you.

 

[corporatebabble]

SeniorJudge,

How so? Can you elaborate on that, please.

 

[seniorjudge]

SeniorJudge,

How so? Can you elaborate on that, please.

Setting up a corporation should be done by an attorney. I have seen the stuff these companies do and it is fancy and pretty and exceptionally overpriced.

 

[dallas702]

Some of those services are pretty expensive. The actual filing fees with the state aren't all that much. You really should talk to Al Whalen. He has a radio show on Sunday evenings from 4-6PM on AM720. He's also in the book under Whalen & Associates I think. His firm handles part of my investment portfolio, and he's also a registered IRS "agent" or whatever. He's totally straight-up honest. You can call his show and ask or call KDWN for his number.

 

[TSRcue]

Corporatebabble,

I think you have received the best advice I could ever give you: Nvinc. They are not for anyone looking to click buttons on the entity form of their choice. If, on the other hand, you want the opportunity to read up on incorporation, privacy and many more topics: Nvinc is for you.
After much reading and one-on-one phone conversations I chose them to incorporate my business. They are my Resident Agent, although Texas is my initial place of business. Any reservations I might had about them dissolved when I saw their association with another great resource: Sandy Botkin,
http://taxreductioninstitute.com/

 

[marbol]

moving a corp

I have a current corp in Texas. The corp is small and has very little assets. It has no current income either.

I want to disolve my current Texas corp and re-create it in Nevada. What are the pitfalls of this?

 

[seniorjudge]

I have a current corp in Texas. The corp is small and has very little assets. It has no current income either.

I want to disolve my current Texas corp and re-create it in Nevada. What are the pitfalls of this?

Start your own thread and ask specific legal questions.

 

[marbol]

Sorry. I am not used to the forum, and I thought I was starting a new thread that was related.