RE: [atlarge-discuss] incorporation - misinformation debunked

["Abel Wisman" <abel@able-towers.com>]

>From my knowledge registered agents cost money, substantial amounts of
money.

I would appreciate it if someone could outline the exact process that is
involved with:

Incorporation in the USA
Obtaining IRS 501(c)(3) status
Maintaining both 

Incorporation in AU or NZ 
Tax-exemption status
Maintenance

Incorporation in any EU country
Tax exemption status
Maintenance

Regards

Abel

P.S, links to relevant information sites would be most appreciated as a
form of reference above the "I've done dozens in my time" references


> -----Original Message-----
> From: Jeff Holt [mailto:jefftttt@txucom.net] 
> Sent: 06 July 2003 01:29
> To: atlarge-discuss@lists.fitug.de
> Subject: RE: [atlarge-discuss] incorporation - misinformation debunked
> 
> 
> Ron et al...
> 
> I don't know where you got this mis-information, but I have 
> been involved with IRS 501(c)(3) organizations since 1977 and 
> the actuality is much less cumbersome than you describe.  The 
> Registered Agent for the organization handles most legal 
> correspondence and I have little doubt that the annual 
> filings would be trivial in nature.  For a start-up the 
> history you allude to is irrelevant.  There is to my 
> knowledge NO Requirement for any "disclosure" of stockholders 
> as you refer to it, since there are NO "Stockholders" to 
> speak of for such an entity.  Your anti-US bias shows through 
> clearly, "further domination of the Internet"???  
> 
> Sincerely,
>  
> Jeff Holt
> Jefftttt@txucom.net
> www.tejas-info-services.com
>  
>  
> -----Original Message-----
> From: Ron Sherwood [mailto:sherwood@islands.vi] 
> Sent: Saturday, July 05, 2003 11:50 AM
> To: Jeff Holt; atlarge-discuss@lists.fitug.de
> Subject: Re: [atlarge-discuss] incorporation
> 
> Jeff Holt wrote:
> The crafting
> > of the AoI does need careful consideration to insure that ease of 
> > modification, but from my experience it is not difficult to achieve.
> In
> > fact, I have a template from another IRS 501 (c)(3) 
> organization that 
> > could be easily modified to fit our own, as I am sure many would.
> 
> Good afternoon, Jeff and all:
> 
> It is attractive to consider the US as the location of 
> incorporation, but there are drawbacks too.
> 
> 1) IRS 501 (c) (3) status is not easily achieved.  It 
> requires a complex and time consuming application process 
> that includes all the red tape associated with not-for-profit 
> incorporation, plus audited statements of financial status 
> including a three year history and forward financial 
> projections. It requires disclosure of corporate officers and 
> stockholders and is related to the corporation as a taxable 
> entity.  It also requires disclosure of percentage of 
> stockholder (or membership) nationality and other details 
> that apply to the proportion of a corporation that is 
> required to be US owned.
> 
> 2) Incorporating in the US implies further US domination of 
> the Internet user group that we wish to represent.
> 
> 3) While you have suggested Florida as a location (good 
> choice if in the US, because of the officer' personal 
> property protection laws in that state), the liability risks 
> for officers is much higher in the US than it is in most 
> other countries.
> 
> I think we should seriously consider the EU as a location for 
> incorporation
> because:
> 
> 1) It appears to be much easier and faster, with less red 
> tape and lower individual liability.
> 
> 2) It removes us from the US centric image that ICANN is stuck with.
> 
> 3) It makes ICANN look even more US centric if they try to 
> block or ignore a serious, legally-incorporated grass-roots 
> group from another part of the world.
> 
> Ron Sherwood
> 
> 
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