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The recent IRS rulings declaring cryptocurrency to be property but nevertheless subject to income tax as well as the roughly 15% Self Employment and Medicare tax for individual traders and miners, the use of a corporation for the purposes of both mining and trading has become an important necessity for such operations to remain viable.
Here is why; if you are mining for yourself, whether solo or through a pool, the proceeds of your mining are subject to income tax, possibly as high as 28% or more, depending on your tax bracket. In all cases the cash value of cyrpto mined will be subject to about 15% Self Employment and Medicare tax which means that without the use of the corporate model, you could owe as much as 43% of your earnings before you even get the cash in hand!
If you mine using a corporation the corporation is not subject to Self Employment tax on its earnings! Depending on how you run your corporation, the corporation may owe income tax but any amount owed may be reduced siginificantly through the use of proper deductions in the form of expenses charged to the corporation.
Remember also, that corporations use pre-tax money to work with; when the corporation buys hardware, software, services, office supplies or any other expense item, the purchases are made with un-taxed money! The corporation itself is taxed ONLY on its profits and the more expenses the ecorporation has, the less taxable profit it will show!
You personally will only be taxed on the amount of money that the corporation pays you for services which can reduce your tax liability significantly!
Our corporations offer an additional layer of security because of the way we handle the transactions.
Here is how it works:
(1) Receive your payment.
(2) Register a legal Kansas corporation, installing our officers and incorporator.
(3) Obtain the Federal Employer Identification Number (EIN) if this option has been chosen.
(4) Sell you the newly established corporation (Our officers except for the Registered Agent) then resign, at which point we either email or ship you all corporate documents, depending on your preferred method.
(5) You then install your own officers and prodeed to do business!
Since this is a private transaction and no registration of the transaction is required, essentially no one knows who actually owns the corporation for one year until the time of renewal.
The EIN is not tied to a social security number but rather to the corporation, providing you with yet another level of privacy.
In short, in light of the recent IRS rulings, you cannot go wrong with our service and one of our corporations.
Hit us up to get your corporation onw!
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People who want an extra layer of protection from identity theft and still use online services.
People who want to do conduct business with US businesses that will only work with other US businesses or people, CPA Networks for example.
People who want to protect their assets from their business activities that a sole proprietorship will not allow.
People who want to enter the US markets with their products and services.
Incorporating in Kansas can help prevent identity theft and give you extra protections when buying or selling online.
WHAT IS A CORPORATION?
The corporation is the stalwart business entity most commonly formed for raising capital and limiting individual liability throughout the world. The corporation is a legal separate “person” which may live forever or be empowered to protect the shareholder from economic harm. It my own assets, sue or be sued, transfer its ownership easily, borrow money, mortgage its assets, and file bankruptcy. A board of directors and corporate officers remove day to day management from the hands of the owners (shareholders). Shareholders elect the board at shareholder meetings.
GENERAL CHARACTERISTICS OF CORPORATIONS
Corporations are separate entities–a corporation is a separate legal entitities formed to be a “fictitious legal” person. Corporations have easy transfer of ownership and assignment of equity.
Corporations have very limited liability–owners (shareholders) are insulated from debts and liabilities of the corporation by state law. Certain provisions must be met, however in order to preserve the insulation from liability but simply following the bylaws of the corporation is normally enough to satisfy limiting liability.
Corporations are created through the filing of Articles of Incorporation with the Secretary of State to form the entity.
Corporations may engage in capital generation-; the corporation may borrow money, issue bonds, sell common and preferred stock and enter into investment contracts, which may include the purchase of real estate or equipment; in short, anything that a persona can do a corporation may do also.
Corporations have unlimited continuity of life; the corporation may live forever without interruption by death of shareholders, directors or officers.
CORPORATIONS OFFER MANY BUSINESS ADVANTAGES
The “For-Profit” or “C” Corporation is the most advantageous method of establishing a business entity.
Limited liability–no shareholder; officer or director may be held liable for debts of the corporation unless corporate law was breached.
Capital generation–may sell common or preferred stock, issue bonds, borrow money, mortgage assets, or contract for many types of financing.
Continuity of life–the entity exists forever so long as corporate regulations are met. No need to wind up operations if an owner or manager dies.
Ease of ownership transfer–the assets may be sold, transferred, pledged, or mortgaged simply by using stock.
Centralized management–practical control of business is performed by officers at the direction of the board of directors.
DISADVANTAGES OF CORPORATIONS
Corporations have few disadvantages, all of which may be easily overcome. For example double taxation can occur when corporate profits are taxed at the entity level and are returned to investors as dividends to be taxed again as individual income. Family and “closely held” corporations frequently return money to investors by other means thereby avoiding the double tax and such financial protection methods are very easy and legal to use.
How Kansas Corporations Are Created
There are three ways to incorporate your business in Kansas: hire a lawyer to do the job for you (a very expensive option), walk in to the Secretary of State’s office and do it by yourself or to use a service like ours at Quickstopcorporationshop.com.
We can incorporate your business for a small fee, compared not only to an attorney but to our competitors.
Why ? Because we process incorporations evry day, from all around the US and the World, from entrepreneurs like you that want to have the peace of mind that only legitimate corporation can bring them.
Requirements for Kansas Corporation:
KS Corporate Name Endings:
The name of the corporation shall contain one of the words “association”, “church”, “college”, “company”, “corporation”, “club”, “foundation”, “fund”, “incorporated”, “institute”, “society”, “union”, “syndicate” or “limited” or one of the abbreviations “co.”, “corp.”, “inc.”, “ltd.”. The name shall be distinguishable upon the records of the Secretary of State from names of other corporations, limited liability companies and limited partnerships.
We check on your desired corporate name and secure it or a variation to protect your intellectual property associated with the name and the value of the name.
Articles of Incorporation Requirements are simple:
Social Security Number:
* Minimum Number – One.
* Residence Requirements. – No requirement and the physical presence in the state is handled by us and our .Resident Agent.
* Age Requirements:
* The officers are not required to be listed in the articles of incorporation.
* An increase in shares or par value does not affect initial fees.
Stock may be issued in various classifications with no par value.
Yearly Requirements Are Simple:
* Annual Statements and an inexpensive corporate renewal.
* An annual statement must be filed yearly by domestic and foreign corporations organized for profit. The tax rate is $1 per $1000 of shareholders equity attributable to Kansas. Minimum tax, $20; maximum tax, $2500.
Income Tax Rate:
* 4% of taxable income, plus surtax of 3.35% of Kansas taxable income in excess of $50,000 for all tax years.
Remember; a corporation pays tax ONLY on its profits and any decent corporation will not show a taxable profit for several years.
And last and perhaps most importantly, NO business license or Social Security Number is required to register a corporation in Kansas!”
Business owners form corporations to safeguard their personal assets from business debts and liabilities. A properly formed and managed corporation can give you the freedom to conduct your business without worrying that you might lose a home, a car, or any of your personal savings because of a business obligation.
Why You Should Incorprate In Kansas:
(1) Protection from personal liability for business debts .
(2) Perpetual existence, so the corporation continues even if an owner dies or leaves the business.
(3) No limit to the number of C Corporation shareholders, who need not be U.S. citizens or permanent residents.
(4) No Social Security Number is required.
(5) No Business License is required.
We can form your for-profit corporation directly with the state without your signature.
We typically complete filings within 2 business days and can both email or ship all documents to you via USPS, FedEx or UPS.
W provide you with a physical address in Kansas from which your corporation “officially” operates but with the corporation filing, your corporation can operate anywhere!
We provide Resident Agent service (Required by law!) for one year until renwal time for your corporation.
The cost to set up your corporation is only $499, a figure which is at least $100 less than what the so-called “big sites” charge for exactly the same service!
We also provide you with a complete file of sample corporate resolutions, a complete form for you to maintain your corporate records and a very unique and legal method for one person and one person alone to run your corporation without anyone outside the corporation know who is in charge and it’s all quite legal!
We will accept payment via Western Union, MoneyGram, wire transfer, USPS Money Order, business or personal check (Subject to banking credit times), cash or loads to certain ATM/Debit cards, Bitcoin and Litecoin. (Cryptocurrency paid services asre however subject to a 7-10 possible delay to due required conversions to USD.)
We will not accept Paypal or credit cards because this is a service which requires cash outlay on our end ance once the service is performed, it is irreversible.
Don’t wait another minute to join the international economic community with a completely legal and virtually anonymous Kansas corporation!
Hit us up when you are ready to go!
Thanks for reading and looking forward to great business relationships!
I respond to emails quickly and generally answer the phone within a couple of rings but if I don’t, leave me a message and I’ll get right back to you!
Thanks for looking!
Basic Corporation: $499 USD or equivalent in Bitcoin or Litecoin.
Corporation With EIN; $599 USD or equivalent in Bitcoin or Litecoin.
Emailed Documents: Free.
Physical Documents Shipped USPS, FedEx Or UPS: $50 USD or equivalent in Bitcoin or Litecoin.