DOCTOR ACHIM ECKEL corporation As I learned later Achim Eckel never was and

Doctor achim eckel corporation as i learned later

This preview shows page 139 - 142 out of 248 pages.

DOCTOR ACHIM ECKEL corporation. As I learned later, Achim Eckel never was and never would be a doctor. Nor did he wish to call himself a doctor and run the very real risk of a year in jail. The U.S. corporation solved his problem. He sits in his office in Berlin. The telephone rings and he picks up the receiver. Notice the accent and the pause when he identifies his business: "EUROPEAN BANCORP!" [pause]. "Dr. Achim Befell" Would you not then address him as Doctor Eckel? Of course you would, and—not knowing the history—so would I. Happily, there is no law in Germany to condemn Eckel if it is only other persons who call him a doctor. Lesson to be learned: Would you like to be called "Judge"? Or "King," or "President for-life"? Now you know one way to go about it.
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DELAWARE AND NEVADA CORPORATIONS As you know, ads have been running for decades advertising low- cost incorporation in Delaware and, to a lesser extent, in Nevada. Hundreds of thousands of corporations have been domiciled in these two states, many for as little as "$19 plus costs." For this reason alone I dislike these two states. Yes, I know that many huge corporations are based in one of these two states, but the usual implication is that anything from Delaware or Nevada is some sort of Mickey Mouse operation. Just ask any judge, private investigator, or courthouse clerk. Delaware has an income tax, so if you plan to accept income in the state of domicile, Delaware is out. True, Nevada has no corporate income tax as this is written, but they have been qui- etly raising fees for years, and now have both a franchise and an employee tax. Some Nevada incorporators claim that Nevada is the only state that does not give information to the IRS. Of course they don't. Nevada does not have a state income tax, so what would there be to report? Neither do Alaska, Florida, Wy- oming, South Dakota, New Hampshire, or Texas. For privacy and—in some cases, tax savings—Wyoming is presently the state of choice for a corporation. Directors need not be listed in the articles of incorporation and, unlike Delaware and Nevada, Wyoming does not require a corporate identifier. As has been previously mentioned, you can name your corpo- ration (for example) "Johnny Johnson" [no "Inc."] and no one will know this is a corporation unless you choose to tell them. Now then, let's talk about money. Are Delaware and Nevada really "low-cost"? Certainly not Nevada. Many incorporators fail to mention the additional fee for the Nevada state form for listing directors. Some do not to mention the franchise fee. One prom- inent Nevada incorporator does a brutal hard sell for an "office plan" (i.e., an address and telephone number for the corporation in Carson City). The cost for a two-year contract is $250 per month. Then, when the customer realizes he doesn't need or
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want that, and stops paying, he is promptly sued via their in- house lawyer!
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