[JDEV] Incorporation Issues (was: Resolution of Licence

[Matthew Van Drie]

At least in Michigan, I don't think it is possible to have a Not for
Profit S-Corp. Pitty though, I hear they're a lot easier to set up. As for
time, I'm not sure. But an S-Corp isn't to bad at all. Articles of
Incorporation are about it. Of course we'll need a board of directors and
such too. A good source of information on this might be distributed.net.
They did the same kind of thing -- a not for profit corporation started
with people from across the US. It seems to work.

Money will also be a concern. It costs money to become a corporation. Not
only State fees, but also lawyer costs and taxes. We should find some way
to get funding. Not sure how though.

-Matt

> As your both saying it varies state to state, but there are other costs and time requirements involved in the process.  I'm currently in the process of incorporating, and I will say that it would take away a lot Jer's time where he should be coding to have to deal with this type or move.  Non profit takes even more jumps and leaps to get done (I'm possibly doing this too).  An average corporation startup will be just under $1000.  That value works for pretty much whatever state your in.  If your lucky and can get some of the lawyer work for free or cheap you can possibly get it for less.  But just saying your going to incorporate isn't enough, you have to look at the different types of corporations (S and P is it?) and the ramifications of both.  Non-profit is definately the way to go, but again, it's a long process, and if it's started now, I would say just let it slowly happen, it'll take a bit of time.
> 
> --Thomas "temas" Muldowney
>    (I'm tired, I know that paragraph is repetitive, sorry)
> 
> P.S. - You people should come in #jabber more and talk about some of this... semi real time chat is a lot better
> 
> > 
> > The cost varies state to state.  And you can choose to incorporate in any
> > state regardless of physical location.  Typically, however, the largest fee
> > is goes to the lawyer who creates the articles of incorporation.  There are
> > now several hundred service bureaus that take care of it for as little as
> > $25.  Usually, the cost is
> > 
> > 
> > lawer/service bureau + state fee = Total
> > 
> > 
> > That is for a standard corporation.
> > 
> > 
> > But I figure that well want to go as a non-profit corporation.  And I think
> > we may have some issues with ownership of the corporation, board of
> > directors, etc.  It may be worth talking to a lawyer as opposed to trying to
> > do it ourselves or having a discount service bureau do it.
> > 
> > 
> > -k
> > 
> > 
> > 
> > 
> > 
> > 
> > 
> > 
> > > It shouldn't cost $300 to Incorporate.
> > >
> > > In Michigan it's only $65
> > >
> > > - Robert
> > >
> > > ----- Original Message -----
> > > From: Eliot Landrum <eliot at landrum.cx>
> > > To: <jdev at jabber.org>
> > > Sent: Tuesday, October 12, 1999 2:45 PM
> > > Subject: [JDEV] Incorporation Issues (was: Resolution of Licence issues..)
> > >
> > >
> > >>
> > >> Hey folks!
> > >>
> > >> I've had some experience with the details of incorporating and such since
> > > my
> > >> Dad is a CPA (certified public accountant).. I have personally researched
> > > a lot of
> > >> this before.
> > >>
> > >> The cheapest and easiest way for this to be temporarily resolved is if Jer
> > > goes
> > >> down to his county courthouse and pays $10 to get a Doing Business As
> > > (DBA)
> > >> license. We can then move from there to incorporatating as a non-profit
> > > entity. For
> > >> a for-profit entity, it costs $300 to incorporate - I am not sure about
> > >> non-profit ones. I can look that up if need be. It would be in our best
> > > interest to do
> > >> move in this direction.
> > >>
> > >> --
> > >> Eliot Landrum
> > >> eliot at landrum.cx
> > >>
> > >> Public OpenPGP Key
> > >> http://landrum.cx/~eliot/publickey.txt
> > >>
> > >>
> > >> _______________________________________________
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> > >
> > >
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> > 
> > 
> > 
> > 
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> 
> 
> 
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