The objectives of a shelf LLC or shelf corporation are the following:
1. To obtain an immediate sense of credibility in the eyes of the prospective client.
2. To develop an increase sense of confidence in a lender, supplier, leasing operation or other provider in the establishment of credit lines.
3. Reduction of complications that can be resolved through the acquisition of a shelf LLC or shelf corporation.
How much should I pay for a shelf corporation or shelf LLC?
Estimate between $700 to $1000 per year. Therefore, a two year aged shelf corporation or LLC may run between $1400 to $2000.
From whom should I purchase the aged corporation or LLC?
The provider must guarantee that the shelf company is free from liabilities and encumbrances. Aged shelf companies then fall into two categories:
1. No business history
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Advantage: No liabilities to worry about.
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Disadvantage: There’s no previously established corporate credit.
2. Business history
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Advantage: Previous corporate credit history helps you build quicker corporate credit lines.
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Disadvantage: Unseen liabilities from the previous owner can destroy the company. Surprise litigation, hidden obligations, contractual obligations you didn’t consider can provide a sudden knock out punch and ruin everything. Were the taxes paid? Tax returns properly filed? WIll the owner back it up in writing and reimburse you for legal, accounting, and other expenses?
3. Alaska shelf LLC? Wyoming shelf LLC or corporation? Nevada? Delaware?
Call us at 484.256.4563. We can narrow it down quickly and easily.
4. What about a nominee EIN?
There are people marketing “nominee officer EIN’s.” They claim that obtaining an EIN, that was applied without your own social security number, is safer and provides privacy. This is false and offers no benefit. Why?
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The bank must check with the US Treasury to check if you’re a terrorist, or on a watch list, before opening the account. They call in the EIN of the company, the company name, your SSN, and your name to the US Treasury to comply with this check. The US Treasury will associate with your SSN with the EIN of the company, regardless if you obtained it through a nominee.
This Is Not Legal Advice. Please See A Qualified Tax Advisor Before Engaging In Any Asset Protection, Business Planning Or Estate Planning.
Limiting Liability = Asset Protection.
