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Sambuka

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#1

Nevada Incorperation -

10-02-2002, 11:44 PM

Hey guys, since i'm outside USA, and have lots of paysites I'm gonna need to incorperate a paper company in the USA.

Everyone seems to be talking about incorperation in Nevada, why is this???

Is it because there taxes are lower than other states?? Also what are there taxes? And if the money comes into the USA incorperated bank account, can't I just funnel it straight out again without paying taxes, its only there to keep Visa happy... and send it straight to my Carribean company??

Anyone have any experience in registering a company like this when there in another country?

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[H]

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#2

10-02-2002, 11:45 PM

I think that's called either *tax evasion* or *fraud*, but I'm not sure which.
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Brown Bear

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#3

10-02-2002, 11:53 PM

You will have to have a US bank account for your US company as well.

You will have to pay tax to the US government on the revenue generated by that US company.

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Jizar II

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#4

10-03-2002, 12:04 AM

I read this about Nevada:

Listed below are some of the reasons why Nevada is attracting more businesses each day:

No state corporate tax on profits
No state annual franchise tax
No personal income tax
Stockholders are not public record which permits complete anonymity
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SpeakEasy

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#5

10-03-2002, 12:05 AM

Originally posted by [H]
I think that's called either *tax evasion* or *fraud*, but I'm not sure which.

Actually it's both...and maybe even a few other things. Also that mentality of thinking from Sambuka, is part of this whole problem in the first place

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#6

10-03-2002, 12:08 AM

Originally posted by SpeakEasy

Also that mentality of thinking from Sambuka, is part of this whole problem in the first place

Exactly, meeeleons of bucks transferred daily, someone always wants more than they are getting, on some level anyhow.

the bragging of the exchange rate to some too

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#7

10-03-2002, 12:15 AM

Thanks Fletch,

I have to add a few more words, because people like him just sit there and think of ways to scam, and cheat the system........ Let's see how can I earn money, funnel it through US banks and wire it out of their country and never pay taxes???......arggggggggg I hate fuckers that think like that

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UnseenWorld

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#8

10-03-2002, 12:42 AM

Originally posted by Jizar II
I read this about Nevada:

Listed below are some of the reasons why Nevada is attracting more businesses each day:

No state corporate tax on profits
No state annual franchise tax
No personal income tax
Stockholders are not public record which permits complete anonymity

Nevada may be the only state where the legislators don't work for the taxpayers (who are mainly tourist visitors). Oh, well, there is a SALES tax which applies to residents, but I bet even most of that is paid by tourists.

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Rocky

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#9

10-03-2002, 12:50 AM

unless you either have a very competent tax lawyer and tons of money or are somehow connected to the mob, i wouldn't even toy with the idea

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Sambuka

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#10

10-03-2002, 01:52 AM

Ok thanks for the good feedback, seems like Nevada is the way to go then, as for me being a money hungy bitch for not wanting to pay taxes. Let me just say that I have paid more taxes in my life that most of you would believe. What I currently do is legal and does not break any laws. I travel the world, I stay in no country for more than 5 months and so no country can claim my tax.

I do what the Fomula 1 drivers do, they travel all over the place and never stay in any place more than a few weeks before moving on, they base themselfs in a tax free country (which is perfectly within there legal right) and they pay the tax rate of that country 0%.

If I have to pay Nevada and USA tax, so be it, I'm thinking about stopping traveling soon as it gets a bit tiresome and fuck I want a broadband connection again, You really long for a home after a while.

I hope the Federal and Nevada tax rate isn't too high, anyone know what the company total tax rate would be for federal and Nevada taxes?

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#11

10-03-2002, 02:08 AM

Except for Sammy this thread consists of pussies..
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#12

10-03-2002, 02:10 AM

Originally posted by mrthumbs
Except for Sammy this thread consists of pussies..

let's all have a hamburger, medium rare, and call it even?
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heymatty

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#13

10-03-2002, 05:25 AM

Just because you have US company generating substantial income doesn't mean you necessarily need it to make a profit.

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KingK7

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#14

10-03-2002, 05:39 AM

Originally posted by heymatty
Just because you have US company generating substantial income doesn't mean you necessarily need it to make a profit.

Exactly, you just have another company elsewhere that performs expensive consultancy services.
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#15

10-03-2002, 05:45 AM

Originally posted by [H]
I think that's called either *tax evasion* or *fraud*, but I'm not sure which.

I think it's called business101, 72% of corporations in the United States are incorporated in Nevada or Delaware...and 96% of the fortune 1000.

For 2 reasons-Tax Advanages and Privacy Protection...

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#16

10-03-2002, 06:02 AM

Originally posted by Wizzo

I think it's called business101, 72% of corporations in the United States are incorporated in Nevada or Delaware...and 96% of the fortune 1000.

For 2 reasons-Tax Advanages and Privacy Protection...

Somewhat true. The VAST majority are still in Delaware actually. The reason is not for tax and privacy - its for investor relations. See in DE, shareholder-investors (passive) can take the company to this special court if the company starts to fuck up in ways the shareholders don't like. This actually gives shareholders a lot more power and usually makes investors a lot more interested.

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#17

10-03-2002, 06:09 AM

Here's some outside info about both:

Advantages of a Delaware Corporation or LLC
Delaware has many other advantages, including low incorporation fees, low annual franchise taxes, and no state corporate income tax for corporations that operate outside of Delaware. Furthermore, Delaware maintains a separate court system for business, called the "Court of Chancery." This Court is known for its well-established record of decisions and speed at which it handles disputes. So instead of spending your valuable time in court, you can spend it running your business. Be aware, however, that if you incorporate in Delaware while your business is located outside of Delaware, you may need to qualify to do business in your home jurisdiction. This may require an extra step and an additional fee to your home state.

Advantages of a Nevada Corporation or LLC
Nevada has become increasingly friendly to corporations with its privacy and liability protection status as well as certain tax advantages. Nevada has no state tax on corporate profits, no state annual franchise tax, or no state personal income tax. Stockholders of a Nevada corporation are not public record, allowing complete anonymity. Be aware, however, that if you incorporate in Nevada while your business is located outside of Nevada, you may need to qualify to do business in your home jurisdiction.

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heymatty

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#18

10-03-2002, 06:17 AM

The tax and reporting advantages for Delaware / Nevada seem pretty comparable to me.

Which has a better record with regards obscenity laws etc.

If I register a US corp suddenly I am dealing with your attorney gen's interesting take on life.

Just as I was ready to open my midget beast site

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#19

10-03-2002, 06:18 AM

Nevada is likely going to be the more porn friendly state, but I'm not sure where they stand on migets?

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auscguy

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#20

10-03-2002, 06:48 AM

Hi all

Ive been reading what everyone has been saying on the Visa issue. A couple of points/questions I have..

1. From what you've been saying, am I right in assuming that all non US webmasters will now somehow need to open a US company before visa will accept them?

2. Now Visa is charging these 'fees' , whats to stop Mastercard and other cards to follow suit, could we all be up for US$5000 in setup and annual fees over the next few months?
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#21

10-03-2002, 06:58 AM

Originally posted by Wizzo

I think it's called business101, 72% of corporations in the United States are incorporated in Nevada or Delaware...and 96% of the fortune 1000.

For 2 reasons-Tax Advanages and Privacy Protection...

Agree....Agree...Agree... and Nevada..is the state....

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jimmyf

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#22

10-03-2002, 07:09 AM

Originally posted by auscguy
Hi all

Ive been reading what everyone has been saying on the Visa issue. A couple of points/questions I have..

1. From what you've been saying, am I right in assuming that all non US webmasters will now somehow need to open a US company before visa will accept them?

2. Now Visa is charging these 'fees' , whats to stop Mastercard and other cards to follow suit, could we all be up for US$5000 in setup and annual fees over the next few months?

Not a thing to stop Master Card and others from chargeing a fee. From what I have read you will have to have a office...or someone to answer a phone for you...Yes you have to have a US bank account.. So it's more than just a US bank account... I can see it now... A little old lady setting in an office with a phone bank in front of her answering phones for Porn sites.... Also if Visa gets reports from the cc companys guess who else will be able to get those reports.....IRS..... I really think it's more to this than just Visa and fraud...

Last edited by jimmyf; 10-03-2002, 07:10 AM.

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#23

10-03-2002, 08:01 AM

forming a corporation is big headache,,

make an LLC first less paperwork and hassle
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shunga

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#24

10-03-2002, 10:46 AM

Can someone give a breakdown of what needs to be done to set up an LLC in Nevada? What's required, and what's the procedure to go about it.

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