Question on Shelf Corporation outside home State

[Sled_Dog]

Hello All,

 

I am in Denver Colorado but am looking at a shelf company In Wyoming. There are several advantages:

 

1. They Are Available

2. Cheyenne, where they are Inorporated is not too far to drive, so it's close

3. No taxes unlike Colorado

4. Cheap fees

 

The question I have is how will it affect the processes mentioned on this board if I am running my Business in Denver but I'm Inc'd in Wyoming?

 

Do I have to set up some king of presence in Cheyenne?

 

Thanks for any advice. Tthis board is very informative!

 

Sled_Dog

[Nester]

Start two companies - one in CO and the other in WY - "upstream" the income into WY. <-- My advice

 

If you operate in CO, chances are that you will need to register the WY corp as a foreign corp to legally do business in CO, which will likely subject the CO-based income to CO taxes anyway.

 

Consult a tax advisor - pick up the book "Inc. and Grow Rich" by CW Allen.

 

Nester

[Sled_Dog]

Thanks for the advice, I will look in to that book.

 

I spoke with a guy at Wyoming Corporations (super helpful BTW) and he said all I would need to do is maintain a registered agent in Wyoming and file papers for a foreign Corp doing business in Colorado. Since my business will be selling things via the internet, I would only pay taxes on sales/business done in Colorado.

 

The other option is to re-domicile in Colorado, which I am told will maintain my date of inc and not worry about it

 

Does that sound right?

 

I guess what I'm really wondering is when I go to start building business credit is it going to matter to D&B and the credit grantors that I am Inc'd in WY but my corporate offices are actually in CO?

 

 

Sled_Dog