If my company won't be making money or revenue for quite some time, what does that mean for me in terms of the IRS? Will we get penalized for NOT having revenue?
Startup incorporation checklist
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Re: Startup incorporation checklist
#12HN has a global audience. Might be worth noting that this advice is aimed at Americans. This could be very bad advice for non-Americans.
I'm a lawyer who deals with startups in Toronto. Quite a few people ask about how to set up a Delaware corporation because they've seen online that that's how you create a startup.
Re: Startup incorporation checklist
#13I would love If anyone extend this information for foreigners (in my case EU) wanting to open a US based company.
Re: Startup incorporation checklist
#14How we can open checking account in SVB? They rejected to open account for us saying that we are not tech vc-backed startup, but we are! Or any other possibilities?
Re: Startup incorporation checklist
#15It's worth mentioning that incorporation by itself doesn't get you very far in terms of protecting against personal liability. It's really just the first step in company formation. You'll want to appoint directors and officers as well. And to protect against departures, IP issues, etc., you'll also want to issue stock with vesting to founders, and have everyone enter into IP agreements. We've automated all of this at…
Swampthing :) do you think is a good idea to incorporate in DE with only 5,000 shares? that gives a minimum anual tax of $175.
The minimum tax for the Assumed Par Value Capital Method of calculation is $350.
you save $175/year and any time you wish or for example receive external investment you can do a stock split or authorise more shares.
Re: Startup incorporation checklist
#16HN has a global audience. Might be worth noting that this advice is aimed at Americans. This could be very bad advice for non-Americans. I'm a lawyer who deals with startups in Toronto. Quite a few people ask about how to set up a Delaware corporation because they've seen online that that's how you create a startup.
Can you share contact information for your services to tech startups?
Re: Startup incorporation checklist
#17If my company won't be making money or revenue for quite some time, what does that mean for me in terms of the IRS? Will we get penalized for NOT having revenue?
In the United States you will not be penalized for having no revenue.
Re: Startup incorporation checklist
#18Has anyone here tried Atlas ( https://stripe.com/atlas )? I'd love to hear your thoughts on it.
I was invited to try it but haven't pulled the trigger yet (I'm currently working on simex.io, an A.I. related project, on the side and am trying to get closer to launch and monetization testing before incorporating). I am very, very interested in people's thoughts regarding it!
Re: Startup incorporation checklist
#19How about shutting down a company? Anyone have any tips on that?
Re: Startup incorporation checklist
#20Has anyone here tried Atlas ( https://stripe.com/atlas )? I'd love to hear your thoughts on it.
we were turned down because we aren't located in a disadvantaged country... (in usa). kind of lame tbh.