BOA in Centreville,VA will register your company for free(nodemaker.posterous.com)
nodemaker.posterous.com
BOA in Centreville,VA will register your company for free
http://nodemaker.posterous.com/bank-of-america-will-start-your-company-for-f
11 comments
http://www.doingbusiness.org/rankings -- order by the second column. The US is #13, Italy is #77. Surprisingly, Macedonia is #6 (and #1 in Europe!), which proves that such a reform is possible.
Incorporating a business is more than just "get it done". The inc docs are the easy part, running and maintaining it are much more difficult. The inc docs should involve a lot more thought and effort. Seeking the help of a lawyer is often required. Who knows what BOA has in their cookie cutter documents. Beware!
The documentation for setting up an LLC largely is cookie-cutter stuff. Most of the company formation issues that implicate lawyers involve equity allocation and IP rights; if you have a non-dramatic founding team and can defer questions about vesting and control, you can probably skip the lawyer.
Meanwhile (I'm a broken record on this): it's better to be incorporated than not incorporated; the contract liability protection you get from doing business as a corporation is significant.
Meanwhile (I'm a broken record on this): it's better to be incorporated than not incorporated; the contract liability protection you get from doing business as a corporation is significant.
Getting an EIN is about 4 minutes on the IRS website and is free. The other stuff, yeah, it might save you some time/money, but probably not very much, unless VA is more cumbersome than other states.
> Now I asked the guy if this is offered at every BOA branch, but he said this service is offered at that particular branch only.
The title is misleading
The title is misleading
Yes you are right.Edit made.
More elaborately he told me that he knew for sure that none of the other branches in Virginia offered this service.
Some branch in California could be offering something similar.
More elaborately he told me that he knew for sure that none of the other branches in Virginia offered this service.
Some branch in California could be offering something similar.
Starting a business is extremely simple and very cheap (except CA, where it's $800 minimum per year, which is ridiculous). Look at Nolo Press books for legal questions you might have, or pay for lawyer consultation.
Keep in mind that if you like in, say, CA, and start your business in VA, you 1) are on the hook for CA taxes so long as nexus is established (primarily, if you live in CA) and 2) have to register as a foreign entity in any state in which you conduct any business beyond sales, otherwise you lose the legal protection of a corporation.
I always point these out to people because so many start companies in NV or DE, but it's all pointless once examine the legal implications. Unless you're a big enough company to have staff lawyers, you almost certainly don't want to incorporate outside your home state.
Keep in mind that if you like in, say, CA, and start your business in VA, you 1) are on the hook for CA taxes so long as nexus is established (primarily, if you live in CA) and 2) have to register as a foreign entity in any state in which you conduct any business beyond sales, otherwise you lose the legal protection of a corporation.
I always point these out to people because so many start companies in NV or DE, but it's all pointless once examine the legal implications. Unless you're a big enough company to have staff lawyers, you almost certainly don't want to incorporate outside your home state.
Unless you're a big enough company to have staff lawyers, you almost certainly don't want to incorporate outside your home state.
If you're looking to incorporate a future/aspired venture-funded startup you need to incorporate as a Delaware C-Corp, regardless of your state of nexus. That's just what any investor is expecting.
If you're looking to incorporate a future/aspired venture-funded startup you need to incorporate as a Delaware C-Corp, regardless of your state of nexus. That's just what any investor is expecting.
I don't see why you can't simply move your corporation when the need arises. I've already done it once, it just took a call and a letter to the IRS.
In the meantime, if any legal problems come up, you're going to have to go to court in Delaware (maybe you can force something in all EULAs that designate your local courts), plus you're going to have to file to do business in your state of nexus.
In the meantime, if any legal problems come up, you're going to have to go to court in Delaware (maybe you can force something in all EULAs that designate your local courts), plus you're going to have to file to do business in your state of nexus.
Registering an Srl in Italy costs at least something like 2500 Euro, and you're really supposed to have more in the bank. Together with some other people, I've been promoting a reform ( http://www.srlfacile.org ) but in the end what got through is fairly weak stuff, and we'll have to keep fighting. (I did, however, get to speak very briefly at the press room at the Italian equivalent of the White House, which was an interesting experience which I'll write up some day).