When it
comes to protecting your hard-earned assets you want every advantage
possible. An ideal situation would be where you were sued both personally
and as a business and you had to lay out your whole asset protection
plan in front of the judge and have the judge rule in your favor that
everything was structured properly for business reasons! And perhaps
a small portion of your assets were at risk, maybe a small amount of
receivables in a corporation, but 90% of your personal and business
assets were declared protected! That would be ideal!
Now, if
it takes longer for someone to get to first base in your situation,
wonderful. In order to figure out whom the owners are just means that
the plaintiff will have to spend more money! After all, aren’t
most lawsuits a simple game of economics? And if you can make it very
expensive for the plaintiff to find your assets, so much the better!
Can this be accomplished? Absolutely! You may utilize our Corporate
Officer Service where NCP appoints an individual to become the officers
of your corporation in the state records of Nevada, thereby not revealing
your identity in the very first place a creditor would look for you.
You will be protected from us, because you receive a contract that states
we have no liability or authority in your situation. We are only
a name on state records. You will run and control the corporation
from a position of vice-president or something similar. The outcome
is to place yourself in a lower profile position, so you are not an
easy target for someone. Now, if you are a high profile person in your
business then this type of service will not be helpful. The key is to
understand what are the limitations in this type of service. You will
know specifically when you speak to us and in what areas your name will
show up to lessen your privacy.
What
is the Challenge?
The challenge
is that many companies rely solely on privacy in a situation with Bearer
shares (which don’t work) and nominees (which do work to a certain
degree as we have mentioned above) to protect their assets. And the
whole plan is designed upon the fact that no one will discover your
assets so as to be motivated to start a lawsuit. Furthermore, there
is no substance to the corporation or LLC! No employees anywhere! No
business license. If you took away the privacy of those plans, you would
have a plan that was like Swiss cheese, all full of holes! The only
way you would be protected would be to hide under a rock because you
had to be so private!
If your
structure is a rock solid asset protection plan and you are low
profile along with it, that is the icing on the cake!
The common
places most people have to give up their identity as being linked to
a corporation are in the following areas:
- Issuing
stock
- Obtaining
a Business License (either in Nevada or your home state)
- Opening
a bank account (either in Nevada or your home state)
- Being
an employee or independent contractor to the corporation
- Entering
into other contracts or agreements
- Loan
applications with banks
You must
realize that you may be low profile on the surface level of the corporation
like in the state records, but eventually your name will show up in
one of these 6 areas. Don’t be misled that you are going to be,
so low profile that no one will locate you. If you don’t like that
option, simply don’t be any part of the corporation, including
being the signer on the bank account and/or independent contractor.
When
you form an Entity will that Entity
have to Pay Taxes in other States?
It depends.
Most people think the state in which they form their corporation or
LLC is the only state with which they have to concern themselves about
taxes. That is not true. Many people don’t realize that they are
doing business in other states and they need to register as foreign
entities and pay the appropriate taxes in those jurisdictions. In order
to better determine if your company needs to register in other states
you first must understand the Multi-State Taxation Rules.
You
are welcome to call our office directly for a FREE consultation at (888)
466-7566.
