Here are some examples as to how some people structure their companies to realize the best asset protection for themselves.
The strategy discussed below provides an overview of how a business can benefit by engaging in business with another corporation. The concept is presented in basic terms. Employing the strategy to suit the specific needs of your business requires input from an experienced business person. Wyoming Corporate Services suggests that you contact other professionals that you rely upon, such as your CPA, attorney, and/or financial advisor. We can also make a recommendation of non-affiliated professionals based upon your request.
This sound business strategy takes advantage of two powerful features of corporations:
1)Corporations are considered independent legal entities, separate from their owners; 2) Corporations can be based in any state, regardless of where their stockholders, directors, and officers live.
The principle behind this strategy is based upon two companies engaged in business with each other. The first business entity is one’s home-state company which may operate in any state. Simply, this is your current business. The second business entity is a Wyoming corporation. By establishing a business relationship between these independent corporations, one’s home-state company is likely to achieve greater asset protection and a reduction in state income taxes. Consequently, the economic status of one’s business improves. This strategy does not reduce federal taxes."
Wyoming Corporate Services Reviews
Here are some examples as to how some people structure their companies to realize the best asset protection for themselves.
The strategy discussed below provides an overview of how a business can benefit by engaging in business with another corporation. The concept is presented in basic terms. Employing the strategy to suit the specific needs of your business requires input from an experienced business person. Wyoming Corporate Services suggests that you contact other professionals that you rely upon, such as your CPA, attorney, and/or financial advisor. We can also make a recommendation of non-affiliated professionals based upon your request.
This sound business strategy takes advantage of two powerful features of corporations:
1)Corporations are considered independent legal entities, separate from their owners; 2) Corporations can be based in any state, regardless of where their stockholders, directors, and officers live.
The principle behind this strategy is based upon two companies engaged in business with each other. The first business entity is one’s home-state company which may operate in any state. Simply, this is your current business. The second business entity is a Wyoming corporation. By establishing a business relationship between these independent corporations, one’s home-state company is likely to achieve greater asset protection and a reduction in state income taxes. Consequently, the economic status of one’s business improves. This strategy does not reduce federal taxes."