Re: [atlarge-discuss] incorporation - misinformation debunked

[Jeff Williams <jwkckid1@ix.netcom.com>]

Jeff H., and all fellow members,

  Your spot on as to there not being any Sockholoders in
this fledgling organization.  Ergo as to members disclosure,
only legally and duly elected officers would need to disclose.


Jeff Holt wrote:

> 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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Regards,
--
Jeffrey A. Williams
Spokesman for INEGroup LLA. - (Over 131k members/stakeholders strong!)
"Be precise in the use of words and expect precision from others" -
    Pierre Abelard
===============================================================
CEO/DIR. Internet Network Eng. SR. Eng. Network data security
Information Network Eng. Group. INEG. INC.
E-Mail jwkckid1@ix.netcom.com
Contact Number: 214-244-4827 or 214-244-3801


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