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Nevada Corporation Sole
Frequently
Asked Questions
Corporation
Sole
Is Corporation Sole a legal
entity?
Yes, it is. It is incorporated
under Nevada state law. Read here Nevada revised statutes regarding Corporation Sole.
How quickly can you set
up Corporation Sole?
Once we get the order, we
will prepare Articles in two business days. It is usually less than 24
hours. We will email you or fax you Articles for signing. You can email
or fax back. We will submit paperwork to the State of Nevada. Then it takes
about 4-6 weeks for regular filing or 2 business days for expedite filing. We
have to receive paperwork back before 10 AM (PST) to submit the same day
to the Secretary of State.
Is Corporation Sole required
to file for EIN (tax ID)?
We don't want to get into area we are not experts. Always consult Tax attorney or CPA. What we understand is that there is no requirement to file for EIN. If you apply for EIN, you enter into a contract with the IRS under an SS-4 agreement. Most likely, the IRS will want you to file a Form 1023 Application for Recognition of Exemption.
Is there a non-filing
EIN?
We noticed on other websites information about non-filing EIN. We believe that there is no special "non-filing EIN number" as often mentioned on different Corporation Sole websites.
Every corporation can get a regular EIN number. Then depending on the type of
corporation and meeting certain conditions, there are exemptions from filing
and federal income taxes. Again please consult CPA or Tax attorney.
How should I deal with the IRS? How do I transfer real estate to Corporation Sole?
We get a lot of
questions like these every day. We incorporate hundreds of companies per month. That's what we do very well, but we cannot
cover all areas of consulting, tax issues, legal questions, accounting and operations. Running
any corporation is a complex issue, and that's true especially for Corporation
Sole. If you don't know what to do you have to hire other professionals to get advice other than
incorporating issues. If you need to transfer real estate, go to a lawyer
or title company. Accounting and IRS questions should be answered by a CPA
or tax attorney. Sorry, we are not able to answer all questions. We are strictly filing service. We don't offer any legal or accounting advice.
Is Corporation Sole tax
exempt?
Following text was
taken directly from the IRS website: Section 501(a) of the Code provides the
exemption
from federal income tax of organization that are described in section
501(c). Section 501(c) describes organizations that are organized and operated
exclusively for specific purposes, including religious purposes.
Section 508 of the Code provides
special
rules with respect to section 501(c)(3) organizations. Section 508(a)
provides that new organization shall not be treated as an organization
described in section 501(c)(3) for any period before giving notice that
it is applying for recognition of such status. Treasury Regulations under
section 508 of the Code provide that such notice is filed by submitting
a Form 1023, Application for Recognition of Exemption. However, under Code
section 508(c)(1)(A), churches are excepted from the notice requirement.
Thus, a church that satisfies the requirements of Code section 501(c)(3)
could hold itself out as tax-exempt without notifying the IRS.
Order
Corporation Sole online now
Corporation
Sole Main Page
DISCLAIMER
INFORMATION IS NOT LEGAL ADVICE. This website has been prepared for general information purposes
only. The information on this website is not legal advice. Legal advice
is dependent upon the specific circumstances of each situation. Also, the
law may vary from state to state, so that some information in this website
may not be correct for your jurisdiction. Finally, the information contained
in this website is not guaranteed to be up to date. Therefore, the information
contained in this website cannot replace the advice of competent legal
counsel licensed in your state.
How can we offer
one of the fastest expedite services?
If we receive the order and payment before 10 AM
(PST), we will process it in 60 minutes. Then we will submit the
paperwork to the Secretary of State for 24-hour processing (at noon).
The next business day, we will pick up and scan Articles, and email
them to you (around 2 PM). If you choose overnight shipping, we will
get the Articles to the courier before 3 PM the same day, so you will
receive them the next morning. (We don't guarantee processing time by
Secretary of State, USPS or DHL.)
John
Vanhara - President EastBiz.com, Inc. Nevada Incorporation Services.
New: Preparing company minutes (shareholder, director, member meetings, bylaws, operating agreement) $20-$25.
Other companies are charging $100-$250 for the same service!
EastBiz.com, Inc.
Our office is located at 5348 Vegas Dr., Las Vegas, NV 89108.
About us.
Toll-free: (888) 284-3821
Office: (702) 871-8678
Toll-free fax: (866) 838-0363
Fax: (702) 387-3827
info@incparadise.com
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We are a member of Las Vegas Chamber of Commerce.
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