Invest In Shelf Corps. Some Interesting Information

When I first got into this business credit and shelf corp game, I figured it will be an awesome idea to just incorporate many businesses and leave them. 5 years later I wish I did. I felt like. $79 to INC in FL and $150 a year for annual reports is a solid investment. A 3 year old corporation will cost me less than $400 and I can easily sell it for $1000. That’s a 100%+ return in 3 years. Well I did INC a couple and still have maybe 2. I sold off some of them and I just didn’t keep up with the filing of the annual reports online due to laziness and lack of foresight.

Well as I always say, you always learn something new. Apparently, New Mexico LLCs are exempt from filing annual reports. Yea, I know, CRAZY. So you can form an LLC in New Mexico, get the EIN and DUNS number and completely forget about it and have a perfectly good shelf corporation in a number of years. Forming an LLC in NW is also as cheap as $50 if you directly through the SOS(secretary of state).

I only learnt this because a client came to be to build a corp that he Inc’s in 2002 and I was amazed that they do not have to file anything.

There are also a number of Tax and Privacy advantages when forming an LLC in NW and you can view them at http://www.keepyourassets.net/nmllc.html.

Usually a Corp will get a little more credit per creditor than an LLC, but this situation is specifically to forming shelf corporations in NM..

In concluding, spending $50 to incorporate a NW corporation and waiting 2 years for it to age and selling your shelf corporation for a mere $500, will give a 900% return in 2 years. I know many of you may say that Shelf Corporations may not be popular or needed in the future, but I cannot see this happening. Even without using them for credit purposes, they are used for other purposes, like getting government contracts.

Feel free to call me with any issues at 305-424-1495(check my contact me page for most available times)

Marc