WYOMING SHELF CORPORATION

Do I really need a Wyoming shelf company to do business out of Wyoming?

A Wyoming corporation or Wyoming LLC is great to do business within and without Wyoming.  You’re not in Wyoming?  A Wyoming company offers outstanding limited liability with a fortress of a corporate veil.

If you do business or have assets in California, New York, New Jersey, or any other socialist-minded state, Wyoming  offers superior protection.  For example, California is replete with an over-abundance of lawyers and extremely high taxes.  Further, California offers inferior corporate veil and limited liability.  You’re much better off with a Wyoming corporation or Wyoming LLC filed to do business in California than with a California born company.  Since Wyoming prohibits foreclosure of a member’s LLC interest, that protection isn’t available except in just a few states (Wyoming, Alaska and Nevada).

An aged shelf Wyoming company is an additional option before you file as a foreign company.  We can accommodate your request either way. The aged companies out of Montana are best to build business credit. If that’s a plan in the future, you could simply file the MT company in WY to do business and build your credit over the next six months.

We offer twelve year old shelf companies in Montana for $2295 that can be filed in Wyoming.  It’s called a Continuance and can be handled in about two (2) weeks and an additional $500.

Why is the client’s SSN used on the EIN application?  What about the privacy?

You’re probably aware that the bank is an instrumentality of the US Treasury.  As a result, the bank shares informatio with the IRS.  What about a “nominee EIN?”  What is it?  A nominee EIN is an Employer Identification Number obtained with someone else’s Social Security Number (SSN).  Hint:  It’s not a good idea.  A nominee EIN won’t do anything for you in terms of privacy.  In fact, obtaining a “nominee officer EIN” creates unseen and unintended risk.  Whose SSN was used to apply for that EIN?  Was consent given?  How many EIN’s were applied for with the same SSN?  You get the idea.

There’s no privacy from the IRS.  The bank asks for your name, DOB, SSN, and other information. Then the bank shares your information with the Department of Homeland Security to clear you as a potential terrorist before opening the account. The point? Why get a “nominee officer EIN” when the bank is going to report your personal data to the Treasury Dept. anyway? So, go ahead and apply for the EIN on your own and identify yourself on the application by name and SSN. We’ll help you draft the application. Many incorporators who sell EIN’s, aren’t telling you that it’s the bank provides most of the data to the government. They only seek to extract another $100 out of you in the application for an EIN that you can get on your own. Besides, the identity of the person who applies for the EIN, or the bank account, doesn’t hit the public record.  So, what’s the point?  Stay on the legal side and don’t create problems for yourself with a Nominee EIN.

What about the corporate kit?

You’re buying an aged shelf corporation or aged shelf LLC, or new Wyoming company.  So, are corporate kits necessary?  Nope. Buy a cheapo three ring binder from Staples or OfficeMax and save money for a dinner with your significant other. Your customers don’t ask to see the corporate kit. It’s a “frill” marketed by the incorporation industry.

• If your car had a leather owner’s manual instead of one in vinyl, does it make the ride all that smoother? No. Buy some advertising instead.
• If you must buy a corporate kit, skip the middle man and go directly to CORPKIT.COM

What about an address for mail forwarding?

We provide a street address and a PO Box in Wyoming. We forward the mail several times per week. Registered agents provide basic forwarding of mail for official purposes (legal notices, IRS paperwork). For an upgrade, we provide mail forwarding for non-official uses (bank statements and other correspondence). Registered agents are allowed to forward mail.

What about protecting the corporate veil and preparing resolutions?

Many incorporators like to make the drafting of corporate resolutions seem difficult and complicated.  Here’s a simple solution:

• Buy a cheap spiral notebook from Staples or at the local grocery store.
• Each time you resolve to do something like hire an employee or buy a delivery vehicle, write it down. Hand write the notes. It doesn’t need complicated and sophisticated language. Here are examples:
• July 14, 2016. On this day we resolved to buy a Ford Explorer for delivery of wedding cakes to our customers.

Sign Name, Position

• July 28, 2016. On this day we resolved to hire a bookkeeper for the administration of the company account. The bookkeeper’s name is Jonathan Blane.

Sign name, Position

• Notarize the bottom of the page every once in a while.
• Your objective is to simply substantiate that the company is separate from you.
• Resolutions and minutes don’t need to be a hassle. Write them in your own words and make it easy. An easy resolution is one that’s likely to be written. There are enough things to do in life than to worry about complicate corporate resolutions, don’t you think?