| When properly
structured, your Wyoming Corporation
can provide you with many tax-free
benefits as well as asset protection.
In order for you to protect
these benefits if they are challenged,
you must be able to show beyond
any doubt that your corporation
is established in Wyoming and
not in some other jurisdiction.
This is a very important factor
that should not be overlooked.
If you should happen to find
yourself in court, there are
certain rules that will be looked
at to determine if, in fact,
your corporation has a presence
in the state of Wyoming. If
not, you could be in jeopardy
of losing your tax benefits
and protection for the officers
of the corporation. |
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These court rules are
known as “Significant
Presence Rules” and
they are as follows |
- The corporation
must maintain a corporate
business address in the
state. In reference to this
subject, the American Bar
Association in its revision
of THE MODEL BUSINESS CORPORATION
ACT, Annotated, Section
202(a)(3) stated: A mailing
address consisting of only
a post office box is not
sufficient.
- The corporation must also
maintain both an active telephone
number and fax line in the
state where it is domiciled
and not in your home state.
The telephone number should
be listed with directory assistance
and in the Wyoming phone book.
An answering machine, voice
mailbox, or answering service
is not sufficient.
- The corporation
must have an EIN number
as issued by the IRS identifying
it as a Wyoming Corporation.
If it has an identifying
code from another state,
the IRS will notify that
state each year so that
the state can collect those
taxes.
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Again, the importance
of this should be seriously considered.
If the viability of your corporation
were to be challenged by someone suing
you, you could lose in court if your
corporation does not have a “Significant
Presence” in Wyoming. This is
one of the reasons we provide the
telephone and mail services with our
EXECUTIVE SUITE PROGRAM.
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With this package we provide your corporation
with the following: |
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•An exclusive telephone number
that is listed with directory assistance
and the phone book, which you may
use on your letterhead, advertisements,
etc. Our staff will answer your phone
per your instructions and relay your
messages to you during regular business
hours. Also has after hours Voice
Mail.
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•Fax
service, with a fax number that you
may advertise for the corporation. Incoming
faxes will be forwarded to you.
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•Mail
forwarding service– up to 100
pieces per quarter; sent daily; includes
regular postage costs. |
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Just
consider what it would cost for you
to actually open an office here with
one or more full time employees. Comparable
packages would cost well over $2,000
per month. For much less than that,
you can have a Full Year
of service through our office.
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