« previous next »
Pages: [1]   Go Down

Author Topic: Can i legally run a corporation but keep my already sole proprieter buisness and  (Read 2523 times)

Marty Champions

  • Getbig V
  • *****
  • Posts: 36439
Can i legally run a corporation but keep my already sole proprieter buisness and
« on: July 15, 2019, 04:04:15 PM »
Legally seperate the two incase i wanna bail on my crporation in the future? Or does it matter or am i playing the 5oclock game with god again on where to set my head.
Logged
A

GymnJuice

  • Getbig V
  • *****
  • Posts: 5221
Re: Can i legally run a corporation but keep my already sole proprieter buisness and
« Reply #1 on: July 15, 2019, 04:10:54 PM »
Make sure you save a screen shot of the advice you get from getbig.  I have it on good authority that this provides legal immunity from tax audit penalties.
Logged

Obvious Gimmick

  • Getbig V
  • *****
  • Posts: 6284
  • I'd hit it
Re: Can i legally run a corporation but keep my already sole proprieter buisness and
« Reply #2 on: July 15, 2019, 04:13:39 PM »
Well kind of, yo need to file a 543(d) with the Secretary of State. But before you do that you need an ex-parte demur indicating you are not engaged in a conflicting subsidiary of the propriety. I'm not real sure about your state, but in Ca you'd also have to solicit response papers from at least 3 competitors, 2 of whom must be minority run. Then, and only then, can you properly request a hearing with an administrative commissioner who will, of course, decline your petition because you asked a legal question to a bunch of borderline retarded meatheads on a bodybuilding board.
HTH
Logged

LanceD

  • Getbig III
  • ***
  • Posts: 335
Re: Can i legally run a corporation but keep my already sole proprieter buisness and
« Reply #3 on: July 16, 2019, 04:10:18 PM »
and nobody gave a fuck... ???
Logged

Palumboism

  • Getbig IV
  • ****
  • Posts: 3599
Re: Can i legally run a corporation but keep my already sole proprieter buisness and
« Reply #4 on: July 20, 2019, 07:11:44 PM »
Quote from: Marty Champions on July 15, 2019, 04:04:15 PM
Legally seperate the two incase i wanna bail on my crporation in the future? Or does it matter or am i playing the 5oclock game with god again on where to set my head.

Yes, it's done all the time. 
Logged

sync pulse

  • Getbig V
  • *****
  • Posts: 5604
  • Only be sure always to call it please, 'research'
Re: Can i legally run a corporation but keep my already sole proprieter buisness and
« Reply #5 on: July 21, 2019, 09:35:46 PM »
Quote from: Marty Champions on July 15, 2019, 04:04:15 PM
Legally seperate the two incase i wanna bail on my crporation in the future? Or does it matter or am i playing the 5oclock game with god again on where to set my head.

Quote from: Palumboism on July 20, 2019, 07:11:44 PM
Yes, it's done all the time. 

I believe this is how Donald Trump "worked" his casino bankruptcies...
His casinos were separate companies from his real estate wealth.
Logged

IroNat

  • Getbig V
  • *****
  • Posts: 33496
  • The only constant in life is change. – Heraclitus
Re: Can i legally run a corporation but keep my already sole proprieter buisness and
« Reply #6 on: July 22, 2019, 04:27:54 AM »
You can have as many businesses as you want.

Keep all funds separate from each business (separate bank accounts).  They are different entities.

Having a corp. requires legal setup, separate tax filings, attorney involvement in setup (unless you do it yourself), filing fees, etc.
Logged
Pages: [1]   Go Up
« previous next »