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Contrast that to how individuals get the hammer put down on them by the justice system if they so much as fart in the wrong room. The thing is though - in Amer
by bdangubic 2y ago
Contrast that to how individuals get the hammer put down on them by the justice system if they so much as fart in the wrong room.
The thing is though - in America people are corporations except of course no one will teach you that. Open an single-person LLC and boom - you are now corporation. Have a rental, move it under LLC, own a car, LLC… now you are corporation (with limited to no liability) :)
- gruez 2y agoYou have to be very careful with this, especially as a single person corporation. https://en.wikipedia.org/wiki/Piercing_the_corporate_veil https://en.wikipedia.org/wiki/Piercing_the_corporate_veil Moreover most of the difficulty in prosecuting corporate crimes comes from the fact that responsibility is spread across multiple people, that it's hard to prove anyone did anything wrong. Obviously that won't work with a single person corporation.
- deleted 2y ago[deleted]
- otterley 2y agoThat’s not quite true. It’s just the first step. Your business then has to observe and perform all the required customs and ceremonies (board meetings, etc.) in order to be respected by the law. Otherwise a court can “pierce the corporate veil” and find individuals liable for their actions.
- bdangubic 2y agoI am speaking from personal experience… all those customs and ceremonies are formalities you pay a company few bucks a month to handle for you…
- otterley 2y agoWhat companies do this for you? I wasn't able to find any in a few minutes of research. I found several that operate as a registered agent, but that's just one piece of the puzzle.