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Gounads posted:Probably a good idea as soon as you have customers as well to limit liability. Incorporation isn't a magic totem. A one-man corporation may not protect you from very much in court, and all the company's debts will be in your name anyway (because the corporation won't have enough credit) If you are concerned about personal liability for your small business activity, you need to have umbrella insurance.
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Feb 4, 2016 23:19
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Motronic posted:I think you need to do more research on your own. The reason so many companies are incorporated in Delaware is because there is no state tax. You seem to be under the opposite impression. Delaware gets away with no state tax in part because it charges an unusually high franchise tax. It's based on the number of shares, so it could be several hundred dollars a year for even a very small C corp.
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Oct 1, 2016 20:10
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