One of our most frequent requests or inquiries is how to be “anonymous” or at least not have your name on public records when forming your company. With modern websites like CorporationWiki and state databases, the names of company owners are not only searchable but openly pushed into search results of search engines like Google.
Despite what you’ve heard from many people who push the use of Nevada or Delaware companies, in most cases the owners, Directors (of a Corporation) or Members (of an LLC) are going to be listed on a public database somewhere. This database is almost always searchable to the general public and if not, then an inquiry directly to the Secretary of State by an attorney or other authority will usually get the data they need.
This is where the New Mexico LLC comes into play. As of the date of this post, New Mexico does not require listing the names of the LLC Members on the Articles of Organization when forming the company. More importantly, New Mexico does not require an Annual Report that lists the name of the members. The Annual Report (which is called different things in different states: “Annual List”, “Statement of Information”, etc.) is basically how each state keeps track of a businesses address and owners. This is the big difference between New Mexico and other states: other states may not list the Members or Directors on the initial filing but almost all of them will require it on the Annual Report. New Mexico never asks for it.
This means that as long as you have filed your LLC in New Mexico then the members (owners) are not going to be searchable and you will effectively be anonymous.
There are a few important things to note about the New Mexico LLC:
So basically, you can form a New Mexico LLC, make sure to use a 3rd party as your Registered Agent and navigate the pitfalls that may come from opening a business bank account and you’ve achieved a level of privacy that most American’s would envy.
Posted in Incorporating in Nevada, Limited Liability Company | No Comments »
Urgent Alert for Clients with Nevada Corporations: Additional State Fees Effective July 1st
MyNewCompany.com, Inc. has been notified by the Nevada Secretary of State of two fee increases that were recently jammed through the legislature and signed by our Governor via Senate Bill 483 (we’ve only been notified within the past few weeks and it wasn’t clear until a few days ago when the fees would be effective). Those additional fees have been verified and are as follows:
This means that basically it will now cost $650/year plus any Registered Agent fees (our fees are $99/year and guaranteed not to raise) to maintain your Nevada Corporation. I can assure you we and the Nevada Registered Agents Association are as angry about this as our clients. This is probably going to decimate our Nevada business so we’ve come up with the following options for our clients’ that do not want to pay that fee; please remember that time is of the essence and feel free to email or call us about any of the options mentioned below.
We apologize on behalf of the shortsightedness of our Governor and Legislature and hope one of the following 6 options will be beneficial to your company.
Option 1: Not using the Company? File a Dissolution
Option 2: Want to remain a Nevada entity but don’t want to pay that fee? Form a New Nevada LLC while Dissolving your current Nevada Corporation.
Option 3: File a New Company in your Home State, then Dissolve your Nevada Corporation.
Option 4: Conversion from a Corporation to an LLC in Nevada (Get a quote here)
Option 5: Domesticate (Move) your Corporation from Nevada to Wyoming (Get a quote here)
Option 6: Domesticate (Move) your Corporation to your Home State (Get a quote here)
Posted in Company News, Corporate/LLC Compliance, Incorporating in Nevada | No Comments »
Maintaining corporate or LLC compliance is an essential function that begins with being organized. Ultimately, it’s a job that starts with you, your company’s owner, secretary or shareholders—and it doesn’t have to be difficult or complicated.
One compliance task you can easily manage without having to meet a deadline or pay a fee is getting your company minute book up-to-date. Your company minute book is where you keep all your company’s important paperwork such as your state filing documents and company meeting minutes. As you update certain documents such as stock ledgers (if you own a corporation) or the member ledger for your LLC, you will want to make sure to place the updated copies in your minute book to keep it current. You will also want to keep your minute book handy for inspection at all times (for shareholders, members, investors or even the IRS or state taxation agencies).
If you are organizing a corporation minute book, start out by making sure that you have your original Articles of Incorporation from your state of formation. You will also need the Corporate Bylaws that you adopted during your organizational meeting, and the organizational minutes from that meeting. In addition to your organizational meeting minutes, you will need copies of minutes taken at all meetings including annual meetings and corporate board meetings. For reference to company ownership, your corporation minute book should also contain a stock ledger that shows percentages issued, dates of issue and any transfers of ownership or stock.
An LLC minute book will need to hold the Articles of Organization from your state of formation and the LLC Operating Agreement that was set forth by the LLC members during your organizational meeting. Place both documents in your LLC minute book along with the organizational meeting minutes. You will also need copies of all meeting minutes such as those recorded at annual meetings and any special meetings that were held to discuss company changes. Don’t forget to include a current LLC member ledger that tracks ownership of the company, including the percentage owned by each member.
MyNewCompany.com provides an easy solution to keeping a compliant minute book with a complete corporate kit or LLC kit including a 3-ring binder embossed with the company name, index tabs, sample stock or membership certificates, a corporate or LLC seal with your engraved company name and more. If you are just starting out or have an existing corporation or LLC in need of a perfectly organized minute book, MyNewCompany.com can order a corporate or LLC kit for you today.
Still worried about getting your other compliance tasks done? Consider ComplianceLock™ the peace-of-mind service that 1) sends email and text alerts (SMS) for important compliance due dates, 2) generates meeting minutes/consents with one click 3) monitors the status of your company and 4) securely stores your personal and corporate documents “in the cloud” for safekeeping and instant retrieval when you need them. It’s 4 products in 1 for total entity protection – one full year is easily less than one hour of attorney advice!
Posted in Corporate/LLC Compliance, Small Biz Management | No Comments »
Click for enlarged version!
Posted in Starting A Business | 1 Comment »
Forming a Nevada corporation comes with a number of benefits that might be worthwhile. Nevada corporation owners enjoy a pro-business atmosphere, low-tax mentality and freedom from information sharing with the IRS (opposed to other states that have agreed to share your company information). Personal liability protection, prestige and convenience are some additional advantages to incorporating in Nevada.
To get started with forming your corporation in Nevada, you will first need to confirm that your company name is available with the Nevada Secretary of State. Please note that you will need to include a corporate identifier such as Inc., Corp. or Ltd. You can verify that your Nevada corporation name is available through a search with the Nevada Secretary of State online.
Before you go on to file any paperwork with the state, you will need to appoint a Nevada Registered Agent. Your Registered Agent will serve as your main point of physical contact in Nevada and must be available during business hours to receive official state documents and any other legal papers. If you incorporate in Nevada because you plan to operate your business here and will have a physical office, then someone at that location can serve as your registered agent. Otherwise, you will need to select a registered agent provider. MyNewCompany.com can provide you with a Nevada registered agent for only $99/year and is a member of the Nevada Registered Agents Association.
Now that you’ve appointed a registered agent, you can file your state paperwork. You will also need to obtain a Federal Tax ID and open a Nevada business bank account, and submit foreign qualification paperwork with the state where you will do business if you will not be operating in Nevada. Click here to view further steps for incorporating in Nevada. Please be aware of companies that promise you a Nevada company without having to foreign qualify in your actual state of operation. Virtually every state requires that a Nevada company “re-register” in that state to do business there, so if you are operating in a state other than Nevada, you may be required to pay additional fees.
MyNewCompany.com offers Nevada business filing packages starting as low as $79 plus the state filing fee. All packages include unlimited name availability searches, next business day processing, unlimited phone and email support, the new Corporation Handbook, the Nevada Startup Checklist, free company alerts, free first class shipping and more. Visit MyNewCompany.com or Order Online right now!
Posted in Incorporating in Nevada | No Comments »