Execution=King
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Kind of a beginner's question, so hopefully you all will bear with me.
I'm looking to get into ecommerce, and will probably eventually source overseas. An ecommerce forum that I'm on posted the following exchange where an experienced importer strongly recommended a particular kind of Wyoming corporation for importing to protect the privacy of one's supply chain (Since the company importing goods into the country is by law public record, apparently you need a private corp. to "break the chain" of trackable information between the container landing on the docks and the goods on your website.)
I'm wondering if people here have experience with Wyoming corps for this purpose, and if so, what are the additional pieces that need to be in place to make it work. (He's mentioning additional fees for "Hidden", "Nominee Held" & a lawyer on retainer....I have an idea what these might be, but info from someone who knows for sure would be great.
Also, I'm a California resident, so I know that I will be liable for CA corp taxes, regardless. The main thing I'm looking to get from a Wyo corp is this privacy...will it work in the case of someone from CA?
This is the quote from the other forum:
I'm looking to get into ecommerce, and will probably eventually source overseas. An ecommerce forum that I'm on posted the following exchange where an experienced importer strongly recommended a particular kind of Wyoming corporation for importing to protect the privacy of one's supply chain (Since the company importing goods into the country is by law public record, apparently you need a private corp. to "break the chain" of trackable information between the container landing on the docks and the goods on your website.)
I'm wondering if people here have experience with Wyoming corps for this purpose, and if so, what are the additional pieces that need to be in place to make it work. (He's mentioning additional fees for "Hidden", "Nominee Held" & a lawyer on retainer....I have an idea what these might be, but info from someone who knows for sure would be great.
Also, I'm a California resident, so I know that I will be liable for CA corp taxes, regardless. The main thing I'm looking to get from a Wyo corp is this privacy...will it work in the case of someone from CA?
This is the quote from the other forum:
Q: Need to set up an LLC for forwarding freight. Does anyone have an opinion setting up their corp? Are there any tax advantages?!
A: Wyoming. You don't want me finding your supplier, so you use a wyoming corp to hide your supplier.
Say you are selling some product, but you have no legal protection. I find your widget on your website and want to compete with you, but I can't find a supplier. If you're not incorporated in Wyoming, I pull your US customs records and find your supplier...it's game over.
For importing, Wyoming is the new Swiss account, NOTHING is available online - and if you pay a little extra its damn near bearer share privacy and its not that expensive.
Q: How much of a difference ($ wise) does it really make?
A: Hidden - $195/yr,
I want to be able to legally say that I did not own it on 12/31 (Nominee Held) 595/yr,
I want that & a lawyer on retainer talking to me about this so its all privileged 1495/yr
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