RE: [atlarge-discuss] incorporation - misinformation debunked

["Jeff Holt" <jefftttt@txucom.net>]

@large and Ron;

OK Ron, I see... the formation of the corporation is, as you say, quite
simple.  You are correct in that the filing for Tax-exempt status is a
bit more daunting.  However it is hardly an insurmountable hurdle.  Here
is a link to a much better understanding of what is required:

http://www.irs.gov/charities/article/0,,id=96099,00.html 
http://www.irs.gov/charities/social/index.html 
http://www.irs.gov/charities/welfare/index.html 
http://www.irs.gov/charities/business/index.html 

Of the above choices, my initial leaning would be to the "social club"
route with education of the public and fostering global charitable
activities prominent in the Charter/Constitution.

Your assumption that I have never lived outside of the US is mistaken.
I have both traveled and lived for brief periods in Europe and South
America. Part of the "educational" aspects of what this group should be
aiming at is the clarification of that mistaken implication you mention.
To wit: " many people in the world see the Internet as being dominated
by the US".  An integral part of our future charter should be considered
as making sure that the "Internet" is not dominated by any ONE country.
If you could illustrate how basing the entity in the US would
"exacerbate" the implied domination rather than just claiming that it
would, then your argument might hold water better.  When the "Charter"
or Articles of Incorporation/Constitution are formalized, rest assured
that if I am still involved with this group there will be language
included making it very clear that one of our primary goals is the
globalization of a democratically based representative body for all
Internet users, not just commercial and governmental organizations.

And I am more than well aware that the US is not the "center of the
Universe", nor is the Earth as a whole, so it is not MY perspective that
needs expansion.

Sincerely,
 
Jeff Holt
Jefftttt@txucom.net
www.tejas-info-services.com
 
 

-----Original Message-----
From: Ron Sherwood [mailto:sherwood@islands.vi] 
Sent: Sunday, July 06, 2003 8:17 AM
To: Jeff Holt; atlarge-discuss@lists.fitug.de
Subject: Re: [atlarge-discuss] incorporation - misinformation debunked

Good morning, Jeff:

I bow to your superior knowledge of the workings of the IRS.

My experience is limited to the formation of only five 501 (c)(3)
corporations.  All were extremely difficult to accomplish.  The
formation of
the corporation was the easy part.  Satisfying the Internal Revenue
Service
requirements that the corporation is an American Corporation (the
majority
of stockholders or members must be American citizens) and then dealing
with
the mountains of red tape, was a difficult and time consuming business
in
every case.  The IRS does not easily give up the taxes on money that may
be
claimed as exempt by anyone donating to a 501 (c)(3) corp.

I am sure that you have legal and accounting skills that will make it an
easy task for you to form such a corporation (or the money to hire such
a
person). However, it is wrong of you to suggest to our global membership
that the incorporation of a global entity in the US, while claiming tax
exempt status for it's benefactors, is a trivial matter.



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