Questions About Incorporating

[Sgt]

I am an Artist/ Professor by trade and I was thinking about increasing the marketing aspects of my field. It occurs to me that there are advantages to incorporating. Does the type of business matter, in order to take advantage of Machinegun purchases through the corp? Where can I find guidelines about doing this. Some of the questions I have are:

 

What happens to the guns that the corp. purchased, should the corp. dissolve?

Do you have to pay yearly fees or taxes to incorporate?

Does the government, by definition, expect a corporation to make minimum profit per year?

Can a legitimate non-profit corp. purchase Machineguns?

[Darth_Kitten]

Hey Sgt,

I used an "incorporate online" company. I think it was about 150 or so for them to do the legwork. You could probably do it yourself with a "kit" from officemax or some other office supply store. I have to pay $40 a year to file my annual report. It is not necessary to show profit or loss as long as you are incorporated. As far as my form 1 went. I just applied as my corp. and sent in a copy of my articles of incorporation.

I'm not really sure what happens once the company dissolves. I imagine that you would have to transfer the weapons to yourself or another entity before you dissolve. Technically if your company were to dissolve, you would be in violation of the NFA if you were to possess the weapons at that point....

Just my .02 not a professional opinion.

Mark

[Sgt]

Thanks, Mark

Just one more question, do you know if you need a separate address, or can it be your residential address? I'll check this stuff out later, but just thought you might have a quick answer. Thanks again.

[Darth_Kitten]

Sgt,

I just used my residential address. I think it really boils down to what you propose to do with the business and your local zoning laws.

For instance I could not operate a gun shop out of my house in St. Louis, the local ordnances will not allow it.

When I set up my corp, I stated my business purposes as primarily collecting WWII memorabilia, and so long as I'm not selling stuff from my house or engaging in retail trade from there the city does not have a problem it.

Mark