PRIMO, INC.

CALIFORNIA SHELF LLC'S

AGED SHELF CORPORATION

INSTANT CREDIBILITY WITH AN AGED SHELF CORPORATION FILED IN CALIFORNIA
When to avoid acquiring a California Shelf LLC. This is critical information if you need a shelf corporation or shelf LLC, and when you must do business in California. This information applies to those who are interested in obtaining a shelf LLC and doing business in California.

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    AGED SHELF CORPORATION

    DO NOT acquire a California shelf LLC to build corporate credit or to start a business.

    Please consider the following reasons:

    California LLC's, and CA companies

    California LLC's, and CA companies in general, have a horrible record of an insecure corporate veil. When the corporate veil is pierced due a weakness, your personal assets can be attacked to satisfy the debts and obligations of the California LLC. If you had a strong corporate veil, you retain limited liability. This means that your personal assets cannot be used to satisfy the debts of the California LLC.

    Attorneys in California

    Attorneys in California are famous for selling people on incorporating. Attorneys push the CA LLC to generate more fees for themselves. Many California attorneys are known to attack other LLC's, filed by other attorneys, to access the personal assets of the owners in lawsuit claim.

    The Corporate Veil

    The corporate veil is what protects you from the liabilities of the company. When the corporate veil is strong, you are not personally liable for the debts of the company. When the corporate veil is weak and its pierced, the creditor can make you personally liable and attach your personal assets. Anyone who lives in California knows of the over-population of lawyers, and the risks from these vermin.

    California companies are weak in corporate veil

    California lawyers sell their clients on incorporating, and then they routinely attack the corporate veil of other corporations and LLC's. Attacking the corporate veil is routine in California.

    California companies are weak in corporate veil

    California lawyers sell their clients on incorporating, and then they routinely attack the corporate veil of other corporations and LLC's. Attacking the corporate veil is routine in California.

    California corporations and LLC's are equally weak

    California companies simply cannot hold up to the challenges of attorneys in California.

    California corporations and LLC's are equally weak

    California companies simply cannot hold up to the challenges of attorneys in California.

    The Solution:

    Obtain an out-of-state shelf corporation or shelf LLC, and file the company in California.

    The corporate veil of an out-of-state LLC is much stronger than those of California. Further, our shelf companies filed in Montana, Wyoming and New Mexico are extremely strong in the corporate veil. We challenge any attorney in California to attempt to pierce the corporate veil of any of our companies.

    The California Franchise Tax Board poses certain challenges when buying a California shelf LLC

    Annual Fee

    The annual $800 fee with the California Franchise Tax Board means that a California shelf LLC will cost much more. When you buy a California shelf LLC, you're paying for the maintenance fees of the previous years and a premium for the age of the company. Since the California Franchise Tax Board charges an annual fee of at least $800, then you are also paying this fee for the previous years of the shelf LLC. If the seller of the California shelf LLC hadn't paid the fee, then you must pay it in arrears, plus penalties and interest. In addition, the reports made the California Franchise Tax Board may not have been truthful.

    California Franchise Tax Board

    The California Franchise Tax Board, and the local business license, also requests the identity of the owners of the corporation or LLC. A change of ownership resets the age of the company to ZERO, from the standpoint of Dun & Bradstreet, and the banks. Since there was a filing of the initial owner of the company, and you recently bought it, this means you're the second owner. When a company is purchased, the existing credit and age is reset to ZERO. As a result, obtaining any shelf LLC with established credit is futile, since the established credit is reset to ZERO within a couple of months. This would also apply to California shelf LLC's.

    The Solution:

    Obtain an out-of-state shelf LLC, and file the company in California as a foreign LLC.

    Out-of-state shelf LLC’s don’t need to pay the California Franchise Tax Board until the company is filed in California. And even then, the fee isn’t paid until the first anniversary from when the out-of-state (foreign) LLC is filed in California.

    You and your business are safer when certain that the California Franchise Tax Board fees are paid when owed, and back taxes are taken care of.

    States of Montana

    The states of Montana, Wyoming and New Mexico don’t request the information on the owners of the company. The owners’ identities aren’t disclosed. This means that you are considered the FIRST owner of the company once you register the foreign shelf LLC to do business in California. This is important if you intend to build corporate credit or obtain private financing.

    You will pay less, in terms of the sales price of the company, by acquiring an out-of-state shelf company and then filing it in California. This is because the annual maintenance fees are lower by obtaining a shelf corporation out of Wyoming, Montana or New Mexico, than a California company.

    California shelf LLC’s always costs more than what they are worth. You’re best with a shelf LLC out-of-state and then file the LLC in California; if you do business in California.

    CALIFORNIA BASICS ON CORPORATIONS AND LLC'S

    A domestic LLC formed in California is a company that was filed in California.

    This also means that a corporation filed in any other state, such as in Oregon, is considered a foreign corporation in California. But, an Oregon, an Oregon company is domestic to Oregon. A California company filed in Oregon is a foreign company in Oregon. Got it?

    A foreign corporation that seeks to do business in California must file one of these forms:

    Since California requires disclosure of the owners at the business license level, this will reveal the owners for anyone who is looking. When you apply for corporate credit, a change of ownership is detected. As such, a change of ownership is considered a new company. The age of the company and its corporate credit is reset!

    The solution is to obtain a foreign company and file it in California. An aged shelf corporation or an aged shelf LLC will provide the following advantages:

    There are 49 other states! From which state should I buy a shelf corporation or shelf LLC?
    The states to consider are:

    These three states don’t ask for the owners of the companies.