Re: internet business - legal and tax questions

In article <[EMAIL PROTECTED]>, [EMAIL PROTECTED] says...
> 
> Folks, thanks for replies.
> 
> Maren - you can start a business as a non-resident alien (except an S-Corp,
> where all shareholders must be min. US residents) but you are not allowed to
> work in your business unless you have a work authorization. If you run your
> business with partners which are authorized to work in US, you're fine.
> 
> Dave - I think all your answers refer to a C-Corp, right ?. I have been
> thinking about LLC, which is a flaw through taxation entity with asset
> protection and has more simplified maintenence than a C corp. There are
> internet services like www.mycorporation.com where you can register a
> company. As far as which state, I think you are right. Do you know how easy
> it is to move the business to Nevada or Delaware in a year or 2 if state
> taxes become big enough to make a move worthwhile ?


I may have misunderstood you. If you want to own a portion of the 
business *and* be an employee, the only option is to incorporate. As to 
"simplified maintenance" yes to LLC, "easiest transfer" goes to 
corporation (just sign over the shares).

The registration services are lay people (perhaps qausi para legals) who 
fill out forms. You can get the instructions and fill out forms just as 
easily.

I have never been involved with moving a corporation from one state to 
another - sorry I can't help you there.

Regards,

Dave Miller
Strategic Services Group, Inc.
creators of FundablePlans.com
http://www.fundableplans.com
A commercial online tool for the creation of business plans.

> Cheers,
> Leszek
> 
> "azzuri" <[EMAIL PROTECTED]> wrote in message
> news:[EMAIL PROTECTED]
> >
> > I am getting ready to form an service related internet business, which
> could
> > not be profitable in the first year or 2. The revenue will most likely be
> > coming from US businesses. I reside and work in New Jersey, although I am
> > non-resident alien authorized to work for my employer only. Therefore
> there
> > will be 1-2 partners extra in the business that are US citizens/residents.
> > There will be no employees until the business is profitable. I would
> > appreciate your opinion on several basic questions:
> >
> > 1/ which entity to choose - because of my immigration status, the best
> > entity for a service related business - S-corp is out of question -
> > therefore LLC or C-corp are the only options (I only consider asset
> > protecting entities and I want to take US tax advantages for myself)
> > 2/ which state should I register this company ? does it make sense to
> > register company off-state while living in New Jersey ? does it make sense
> > to register the company off-shore ?
> > 3/ will I have to pay NJ tax on the business income in case most of the
> > business will be done out of state ?
> > 4/ which company registration service do you recommend ?
> > 5/ what are best newsgroups to post these type of questions ?
> >
> > Thank you very much for any help.
> >
> > Azzuri
> >
> >
> 
> 
>