ENHANCE YOUR BUSINESS PLAN
Florida Breakdown Here.
ENHANCE YOUR BUSINESS PLAN WITH A SHELF CORPORATION OR LLC.
FLORIDA SHELF CORPORATIONS
What's a foreign company? How does that vary from a domestic company?
In whatever state you live in, a company filed in that same state is considered a domestic corporation. A corporation filed in any other state is a foreign corporation. For example, a Florida corporation is domestic to the state of Florida. But it’s considered a foreign corporation in any other state; such as a Florida company in California. Likewise, a California corporation is domestic to the state of California. The California company would then be foreign to the State of Florida.
Knowing the above, doing business in your state may require a “foreign filing” if the company was initially filed in another state.
First, why not obtain a shelf company made in Florida?
1.
Florida collects information on stockholders on the state or local level (business license). A change of ownership usually translates into a “new company” even though it may be several years old. Bankers consider companies as “new” when the owners change. As for states such as Montana, Wyoming and New Mexico, stockholder info is not collected. Therefore, the transfer of ownership is not transparent on the public record.
2.
Florida collects info such as SSN and Date of Birth. Therefore, buying a company filed in Florida is not the best idea if you’re building corporate credit. Acquire a company from Montana, Wyoming or New Mexico, and then file it in Florida as a foreign corporation.
What states produce the best shelf corporations and LLC's?
Montana
$15 per year in annual fees, great respect for property rights, and owners do not need to disclose their interest to the State of Montana.
Wyoming
$50 per year in annual fees, great respect for property rights, and owner do not need to disclose their interest to the State of Wyoming.
New Mexico
$0 per year in annual fees, moderate respect for property rights, and owners do not need to disclose their interest to the State of New Mexico.
If you would like a list of the available shelf companies to start your business, build business credit or move to Delaware, please send us an email here: Assetprofile@gmail.com or call 484.256.4563. Thank you.
IS THIS INFORMATION CORRECT? PLEASE SEE YOUR TAX ADVISOR. CONFIRM BEFORE YOU FILE.
How to Register a Corporation or LLC in Florida
Understand the Process of Qualifying as a Foreign Corporation
- A foreign corporation is an existing corporation that is registered to do business in a state jurisdiction other than the one where it was originally incorporated.
- A domestic corporation is one that is registered in the same state of original incorporation.
Things You’ll Need:
- Filing fees – checks or money orders
- Computer with Internet access and printer to download forms
- Certain required documentation (letter of good standing from the state in which the company was initially filed) and completed forms
Step 1: Is your entity name already in use?
Check to see if the name of the Corporation or LLC you are wanting to register is already in use. If your entity name is already taken, you may need to modify your entity name slightly to register in that state. If original name is used, an alternate name must be used with this form:
LLC http://form.sunbiz.org/pdf/cr2e122.pdf
Corporation http://form.sunbiz.org/pdf/cr2e019.pdf
To check names in FLORIDA: http://www.sunbiz.org/search.html
Step 2: Complete Application Form
Obtain an application from the state’s department of commerce. The application will be called something like, “Application for Authority to Conduct Affairs” or “Registering a Corporation or LLC”. Often, you can download this from your state’s official Web site.
All Florida registration Forms are located here:
http://www.sunbiz.org/downloads.html
Some specific forms and filing fees are listed here for your convenience:
Foreign Corporation Registration – $87.50
http://form.sunbiz.org/pdf/cr2e007.pdf
Foreign LLC Registration – $160 for
filing fee, certificate of status and certified copy
Step 3: Certificate of Good Standing for Foreign Entities
If your corporation or LLC is domestic (same state), you can skip this step.
If you are a foreign organization, go to the secretary of state in the state where you are incorporated, and get an original Certificate of Good Standing. This must be attached to the application form.
For foreign entities wishing to register in Florida, the certificate must be dated within 90 days of the time of filing.
Step 4: File Application, Fee, and Return Envelope with Department of Commerce
File your application and fee with state’s department of commerce. Know that nonprofit corporations may qualify for reduced filing fees.
http://www.sunbiz.org/feecorp.html Corporation Fees
http://www.sunbiz.org/feellc.html LLC Fees
http://form.sunbiz.org/cor_fc.html Foreign Corporation forms
http://form.sunbiz.org/cor_fllc.html Foreign LLC forms
Special FL Electronic Filing & Certification
FL Sunbiz™ https://efile.sunbiz.org/onlmenu.html offers several methods information can be submitted to the Division for filing. In addition to Sunbiz™ E-filing (electronic fax filings), we offer on-line document filing for Fictitious Name Registration, Annual Report, profit and nonprofit corporation, limited liability company, limited partnership, and judgment lien filings. Electronic Certification is also available.
FL Paper Filing
Include checks or money orders made out to Florida Department of State.
The main office at the capitol is:
For hand deliveries – courier address
Registration Section
Division of Corporations
Clifton Building
2661 Executive Center Circle
Tallahassee, FL 32301
850-245-6051 – to answer any questions
Mailing Address:
Registration Section
Division of Corporations
PO 6327
Tallahassee, FL 32314
To facilitate the processing of documents sent, please attached a self addressed envelope and a cover letter referencing the corporate name as well as your name, return address, and phone should also be submitted.
Prepare Yourself for the Tax Consequences
Step 1: Register with State
Know that, since you are choosing to take advantage of all the rights and amenities of the state in which you are operating as a foreign corporation, you will be obligated to contribute to the health and wealth of that state. This may mean filing taxes and paying other fees within that state.
All Florida tax forms : http://dor.myflorida.com/dor/gta.html
Step 2: Complete and Submit Taxes
Your business may be required to register, collect, accrue and remit various taxes or fees in Florida. You can register your business with the Florida Department of Revenue by filing Form DR-1: http://dor.myflorida.com/dor/forms/2006/dr1.pdf
You may also register on line: http://dor.myflorida.com/dor/eservices/apps/register/
You can contact the Florida Department of Revenue at (800) 352-3671 or (850) 488-6800 or register online at www.myflorida.com/dor/businesses. Once registered, you will receive a Certification of Registration or notification of liability for the taxes for which you are registered and personalized returns for filing, with instructions.
Consider using an accounting firm to handle your taxes.
Tips & Warnings
- Plan to spend several hours gathering and filling out the paperwork necessary to qualify as a foreign corporation. If you want to do business in many states, you will need to fill out separate forms for each one. Many people delegate this work to a corporate attorney or a firm that specializes in the registering of corporations.
Florida
- If you are not registered in a state, you may not have the right to sue, which can limit your ability to collect debts and pursue your rights as a business.
- If the state in which you do business requires out-of-state companies to register as foreign corporations and you neglect to do so, you may have to pay weighty penalties.
- If you are doing business in your home state and you have not qualified as a foreign corporation in that state, you may be unable to pursue legal rights until you qualify. By that time, the statute of limitations may have run out.
- Don't be daunted by the foreign filing process. As with becoming incorporated, it's simply a matter of correctly filling out the appropriate forms and paying the filing fees.
IS THIS INFORMATION CORRECT? PLEASE SEE YOUR TAX ADVISOR. CONFIRM BEFORE YOU FILE.
SHELF CORPORATIONS AND SHELF LLC'S
BASIC OPERATIONS
BUILD CORPORATE CREDIT
- Corporate Credit Score
- Build Corporate Credit Q&A
- Increase your chances of getting a small business loan
- Dunn and Bradstreet Report
- Credit card mistakes that could hurt your small business
- Different Ways to Fund Your Business
- Seeking a Bank Loan; Tips to Review
- Increase the Speed of Cash Flow
- Mistakes to Avoid When Pitching Your Idea
- How to Prepare for Emergency Expenses
- Startup Funding for Small Business
- Establishing Business Credit
- Financial Ratio Analysis
- How to select the right investor for your business idea
- How to Improve Your DNB Report
- Cost-benefit analysis
- Advantages and Disadvantages of Financial Leverage
- What lenders look for on a credit application
- How to deal with credit fraud in business
- How to fill out a business credit application
- Benefits of credit insurance
REPAIR PERSONAL CREDIT
WARNING ON CALIFORNIA CORPORATIONS & CALIFORNIA LLC'S
THOUGHTS ON SUCCESS
Aged shelf corporations and LLC's offer no tax advantages. We're not attorneys. We're not tax advisors.
QUICKIE FLORIDA REFERENCE FOR DOCUMENTS
BUILDING CORPORATE CREDIT
PREPARATION FOR BUILDING CORPORATE CREDIT
- Lenders require full transparency. This means your name is listed on the public record.
- Don't use a nominee officer/contract officer if you're applying for corporate credit.
- Lenders prefer companies that are at least two years old.
- File the WY company in your home state as a foreign corporation
- Obtain a commercial address where you intend to do business
- Obtain the phone number, using the commercial address as the billing address
- Register the phone number with 411 information services
- Be honest on all applications for credit
- You're ready! Start building corporate credit. Call 307.237.2580 for a referral.
ORDER PROCEDURE
- Choose the shelf company for acquisition
- We send a custom order form
- You approve the order and fax to our number, 702.920.8824
- We process the order after receiving payment
- The documents we have on file are sent via USPS Express Mail
- We order a new set of documents from the Secretary of State
- You provide an updated list of officers and the new company address
- You apply for the EIN and the bank account.
- You file the company in another state and update that information with us.
FILING YOUR SHELF CORPORATION OR SHELF LLC IN ANOTHER STATE
NATIONWIDE SECRETARY OF STATES, UNDER CONSTRUCTION
- Include Cover Sheet, form CFCLVR
- Choose "Application for authority to transact business in Arizona" CF0024
Colorado shelf companies and filing information
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