When I first got into this business credit and shelf corp game, I figured it will be an awesome idea to just incorporate many businesses and leave them. 5 years later I wish I did. I felt like. $79 to INC in FL and $150 a year for annual reports is a solid investment. A 3 year old corporation will cost me less than $400 and I can easily sell it for $1000. That’s a 100%+ return in 3 years. Well I did INC a couple and still have maybe 2. I sold off some of them and I just didn’t keep up with the filing of the annual reports online due to laziness and lack of foresight.
Well as I always say, you always learn something new. Apparently, New Mexico LLCs are exempt from filing annual reports. Yea, I know, CRAZY. So you can form an LLC in New Mexico, get the EIN and DUNS number and completely forget about it and have a perfectly good shelf corporation in a number of years. Forming an LLC in NW is also as cheap as $50 if you directly through the SOS(secretary of state).
I only learnt this because a client came to be to build a corp that he Inc’s in 2002 and I was amazed that they do not have to file anything.
There are also a number of Tax and Privacy advantages when forming an LLC in NW and you can view them at http://www.keepyourassets.net/nmllc.html.
GET MY EBOOK SHELF CORP SECRETS
Usually a Corp will get a little more credit per creditor than an LLC, but this situation is specifically to forming shelf corporations in NM..
In concluding, spending $50 to incorporate a NW corporation and waiting 2 years for it to age and selling your shelf corporation for a mere $500, will give a 900% return in 2 years. I know many of you may say that Shelf Corporations may not be popular or needed in the future, but I cannot see this happening. Even without using them for credit purposes, they are used for other purposes, like getting government contracts.
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