refer please

[MaxAdv]

I need some references to information related to s corp having subsidiary/sub chapter companies. In other words, I want to set up another company that works for the one I have or vice versa. Thanks for any information! I really wish I would have purchased a shelf corp the first time around. Can I buy one now that then becomes the owner of my current comany? Or buy it as a subsidiary of current company? Which is better? I have a few thousand I can put towards it so I think its the best way to go. Need advice and referrals. Thank you!

[MaxAdv]

bumping this bec I need some advice so I can act on a few offers....not that this money burning a hole in my corporate stash...I just need to make a move and trust y'all here! Thanks. I need access to the JavaOwl wealth of site info

[olgethorpe]

I'm really kinda curious as to what you're hoping to accomplish. And, not quite sure what you meant by "shelf" corp.

 

Anyway, there's nothing I'm aware of that prevents an S Corp from have subs, or even "owning" other companies. People get caught up in the S Corp thing because they want to avoid "double taxation"...having the corp taxed on its profits and then have any salary/dividends you take out taxed as personal. But other than that, an S Corp can function just like a C Corp in its operations.

 

On the other hand, if you are going to "own" other business, maybe you should convert you S Corp to a C Corp...you can do that once, I believe...because it does offer you better protection from liabilities.

 

My advice, though, is if you are trying to build a company of companies, you probably want to get really good legal advice before proceeding. You need a good lawyer to guide you through the process...

[mmm]

Hi,

 

I've been working improving my business credit.

 

So far I've only been able to be approved by, Office Depot, Staples, Dell, Att and TMobile with out a P/G.

 

Home Depot and AMEX turned me down.

 

How long ago did you establish you company and is there a catch for Home Depot, Target and Tiffneys?

 

Thank you in advance.

[MaxAdv]

Hi MMM. I have been in business since 1997 but did not incorporate (s corp) until March 2004. I think that my financials on my D&B help alot as far as getting approved but other than that I think it can be hit or miss, for lack of a beter term, when it comes to qualifying for the credit I have so far. I have been turned down on one day, yet, approved the next with 2 of them (one being Target). I posted a contact from D&B some time ago. He said no one has contacted him from here but he really set my file up nice. Once my D&B was set and my number was listed I obtained credit approvals with decent lines. Hope that helped.

[MaxAdv]

Hi MMM. I have been in business since 1997 but did not incorporate (s corp) until March 2004. I think that my financials on my D&B help alot as far as getting approved but other than that I think it can be hit or miss, for lack of a beter term, when it comes to qualifying for the credit I have so far. I have been turned down on one day, yet, approved the next with 2 of them (one being Target). I posted a contact from D&B some time ago. He said no one has contacted him from here but he really set my file up nice. Once my D&B was set and my number was listed I obtained credit approvals with decent lines. Hope that helped.

[javaowl]

Max,

 

Here's some food for thought:

 

Corp Set up: http://www.creditboards.com/phpBB2/viewtop...checking#286665

 

Shelf v. Shell Corps: http://www.creditboards.com/phpBB2/viewtop...checking#286634

 

Are you Incorporated?: http://www.creditboards.com/phpBB2/viewtop...checking#253418