Wyoming Corporation?

AnilaoAnilao subscriber Posts: 2
edited April 2008 in Business Planning
Hello All,
I would like to know if is there anybody out here have any experience in forming a Wyoming Corporation? I would like to form my corporation within the state of Wyoming because in this state, I was told by many incorporaters that Wyoming does not have any income tax,  have anonymous ownership and bearer shares. I also heard that the cost of maintaining a corporation each year is significantly lower than of my home State which is California. Plus there is not Franchise tax. Then I think its the property tax that I don`t have to pay unless I have assets held within that state.
 
Is this all true of Wyoming? Can any one tell me how much does it cost to maintain a Wyoming Corporation? What are the negatives of having incorporated in that state? What other positives I have not yet mentioned?
 
Here are the other reasons why I want to incorporate outside my home state.
 
>1.) Franchise Tax Fees of $800 per year, plus $800 for the first year paid within 30 days of incorporation.
 
>2.) Income tax
 
>3.) I would be operating an online business without having any need to sell anything in the state of California. Meaning, all business is virtual, and no physical business selling or done in California, but would just be run in my Home in California.
 
I tried to visit the State of Wyoming Department of Incorporation website, but I find it all being mambo jumbo confusing lingo! None that I can clearly understand how much I must shell out in the first year, and how much I must shell out each and every year there after.
 
Please Help me get all my facts right so that I can make the right decision. I noticed that Google is incorporated in Delaware, but that is a state that would be catered to larger businesses. Then Nevada is another state I was considering, but all those information can be easily changed by the bureaucrats in Nevada.
 
What is your suggestion in which state I should incorporate my business in? I definitely know that I will not want to incorporate in California since I would have the option of not doing any physical business presence in California, except maybe for maintenance, and media/ advertising activities.
 
Which state is good for lower costs in Filing, and overall costs in annual renewals?
 
I do understand that If I incorporate outside California, I will need a registered agent in thee state I do decide to incorporate in.
 
I hope I can find someone who`s an expert in incorporating. I have access to a lawyer through Pre Paid Legal Service. So I can ask the provider law firm for any law specific topics.
 
Thanks all
Richard Anilao
 
 

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