my attorney friend (note: We did not establish privilege) said pretty much the same thing. It’s a lot easier to dismiss liability for an officer of a corporation than for an individual person.
We shit talked very informally and pretty much came to the conclusion that so long as you don’t pierce the corporate veil (e.g. spending company money on personal things), you are pretty protected.
That’s…depressingly realistic.
my attorney friend (note: We did not establish privilege) said pretty much the same thing. It’s a lot easier to dismiss liability for an officer of a corporation than for an individual person.
We shit talked very informally and pretty much came to the conclusion that so long as you don’t pierce the corporate veil (e.g. spending company money on personal things), you are pretty protected.
So… register an LLC, once you have fed tax id, then send https://www.irs.gov/pub/irs-pdf/f2553.pdf to IRS and bam you are an s-corp.
Which states are lax about corp laws?
This was a few years ago. Pretty much most of the red flyover states (Arkansas, Minnesota, etc.)
Basically my criteria was:
Most states (even blue states) have pretty strong liability protections so long as you write your bylaws correctly.
But free filing was rare. Most had some sort of annual business license fee.