Maintaining your entity: What you need to know about Company Assistance Programs
In this episode of Coffee with Carl, attorney Carl Zoellner covers everything you need to know about maintaining your entity and the company assistance program.
That’s exactly why we love CAP (Not Captain America).
Many of our clients have our company assistance program, and it is an incredible asset to your business entities.
If you have a Wyoming or Nevada LLC and do not reside in those states, first and foremost, our company assistance program assists you with establishing what’s referred to as your business nexus in those states so you can rely on the laws of those states.
Without the company assistance program, without the business nexus in Wyoming or Nevada, your entity will most likely fall short if challenged and be dragged over into the state in which you reside.
So, especially for clients in states where they have weak asset protection statutes, it is incredibly important to have that business nexus in those strong states so we can extend that coverage across your other entities.
Another really cool feature of the company assistance program is the digital mail forwarding as well, so you can use that as your mailing address. We’ll scan your mail and email it to you, so you’ll have it in digital form.
Also, if you’re dealing with a lender or someone who’s asking you to establish your entity or show that it’s in Wyoming, we can even do things like provide a lease agreement on request. There’s basically a business number that you can associate with it.
If you happen to be in Nevada or Wyoming and need some meeting space, we offer our meeting spaces to our company assistance program members, so there is a ton of benefit there. Like I said, for me, it starts with the business nexus, and then also, the company assistance program helps with your annual compliance. Should you need to hold a meeting and you’re a company assistance program member, you log into your platinum portal, and give us the basic details.
We’ll type everything up in legalese for you, and all you need to do is sign them and keep them with your paperwork.
Something to keep in mind, the company assistance program is an expense you should expect to see on an annual basis. It applies to all your business entities, so it’s a flat rate for all your business entities.
So until next time, thank you for joining me with another episode of “Coffee with Carl.” If you do like this content, I would encourage you to subscribe and hit the like, so we can continue to make more content.
As always, take advantage of our free educational content and every other Tuesday we have Toby’s Tax Tuesday, a great educational series. Our Structure Implementation Series answers your questions about how to structure your business entities to protect you and your assets. One of my favorites as well is our Infinity Investing Workshop.
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