What do you think is the most crucial thing while starting a new business? Well, I would say that it is ‘time’. To remain competitive enough, you cannot afford to lose your precious time and starting a new entity or corporation can cost you a lot of time. In other words, if you start your company today, it will take a few years to gain recognition and reputation in the market. A newly formed company even finds it difficult to arrange the financing.
What, in my opinion, is a better option is to start the company with a shelf corporation. Shelf companies can instantly provide your company with enough credibility and recognition. The reason is evident that the age of the company is the deciding factor in gaining trust among the investors. An aged company with enough history seems more attractive to business than a newly formed one.
Another important thing is to choose the state where you want your company to be registered. You always have options while selecting the state of incorporation: First is that you can select the same state for the company where it will operate, and second, you can opt to start your company outside (i.e., in some other state).
Choosing the state wisely can be a very crucial step because it will determine the tax policies and other regulations for your company. Are you wondering why is it even essential to choose the state? The reason is that a wise choice of state can save you a massive sum of money by saving the taxes. Different states have different tax structures, and as of now, Wyoming is the most attractive option for you to incorporate your business. No wonder why most entrepreneurs nowadays are looking towards Wyoming for starting their businesses.
Well, taxes are inevitable, but they indeed are impacted by different states. The states with the best tax policies are now attractive options for most people to start their businesses.
Why should you consider starting your business in Wyoming?
Wyoming is a state with lower administrative costs. It makes it the popular choice for most of the companies to get incorporated in. compared to other states like Nevada and Delaware, the administrative costs in Wyoming are significantly less. Also, you are not really required to pay the licensing fee to complete the process of incorporation.
Even if you are not a citizen of the United States, you can quickly start your company in Wyoming. Wyoming also offers you protection laws for your assets that can protect you from losing the assets in litigation. Also, the state, unlike Nevada, never asks for the tax ID number of companies. You are also not required to enlist the members of the Limited Liability corporation on the public database, which ensures that your data is protected from being shared.
The advantages of starting your company in Wyoming over any other State include:
- Wyoming offers lower startup costs.
- It doesn’t have any state income tax.
- The state provides excellent asset protection laws.
- There is a surplus budget for fiscal health in the state of Wyoming.
- You need not be a citizen of the United States for starting your business.
How can Wholesale Shelf Corporations help you to create your company in Wyoming using a Shelf Company?
With wholesale Shelf Corporations, you can get the credit-ready shelf companies with tax registrations and bank accounts. You also get quick access to the corporate lines of credit. These aged companies can help boost consumer confidence in your business by creating an appearance of longevity.
- Choose a business idea-It indeed is the first step before starting any business because your concept should be unique enough to attract consumers and capable enough to create the need among the population.
- Determining the entity structure– Here, you have to decide the corporate structure. For instance, you can choose an LLC because it protects your assets from any sort of liability.
- Choosing a seller and the shelf company– You are required to select the shelf company according to your needs because the age of the shelf corporation matters a lot. Secondly, it is essential to meet the seller for negotiation because the prices should be reasonable. Although with Wholesale Shelf Corporations, you are offered the best possible prices, you must ensure that the company is absolutely clean without any debts or liabilities before making any commitment.
- Signing the contract– Signing the contract of sale means that the owner will get transferred to your name, and you will be the shareholder of the company.
- Selecting a suitable name for the company– You surely can keep the last name of the shelf company, but in some cases, it is better to change the name to the desired one.
- Changing the existing address of the company– Changing the current address of the shelf company to the new one is definitely another vital step towards the acquisition of your company.
- Applying for EIN-Employer Identification Number is issued by Internal Revenue Service, and it is required for the purpose of federal tax.
- Opening bank accounts– Once you are set with the steps mentioned earlier, you need to open a bank account to process the monetary transaction of your company. Note that opening a business account in Wyoming is actually a cakewalk.
Wholesale Shelf Corporations offer the 80 Paydex Program through CorporateCashCredit.com to build the corporate credits for your company. With this program, you can get a Paydex Score of 80 with 45 to 60 days. If you are not willing to pay the Upfront fees, you can easily skip the program and go straight into funding.
You also get free credit ready features with your shelf company from Wholesale Shelf Corporations. These features include 1st annual report, 411 directory listing, IRS company registration, yellow pages listing, Bing search engine listing, super pages listing, consultation with corporate CPA, consultation with asset protection attorney, google search engine listing and yahoo search engine listing. These all free features are worth more than $1900.
Recommended: How to start a business in Delaware using Wholesale Shelf Corporations
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