Monday, November 21, 2011

Incorporating, Getting an EIN Number and Opening a Bank Account...

As my mother-in-law and others like to ask me or my wife "What are (is) you (he) planning now?"

Given my habit of doing things that are usually considered a bit off kilter (chasing hurricanes, bull riding, sky diving, wandering into Mexico on the back of a burro, etc., etc., ) any time I come up with a new idea my close relatives just roll their eyes.

This is exactly what occured this weekend and throughout this past week when I announced to my wife that I had officially formed an LLC in the name of "NISMO Stuff Racing, LLC", obtained my state certificate of formation, acquired my Federal EIN # (allowing me to hire employees should I wish and file tax returns) and open a banking account for this new institution.

My new company currently has a Tangible Net Worth of $5 (the $5 I deposited in the bank account upon its opening).

Many may initially think that this has been done to create a shell company for my racing efforts to create tax writeoffs.  Not so.  In fact, I hope to run a real business and offer a needed service.  Nothing to be announced yet and who knows, it may all fail and fall apart and amount to nothing--in fact, chances are that's exactly what it will do...but...then again, it may not...

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