With all the threads regarding trusts for Class III stuff, why not a corporation?
Back in 2001 I formed a Washington State non Profit to hold my suppressors.
The one time Registration fee was $30
My annual renewals are $10.00 per year (I do this online and I file my annual report at the same time. Takes me ~10 minutes total to complete everything).
I can add Officers (Wife and Kids) to the Corporation online at anytime. Takes less than 5 minutes.
Advantages that I can think of:
-I'm told that the ATF processes the paper work for Corporations faster than for trusts (anyone know this for sure?)
-Able to add and remove Officers (Family) to the Corporation at anytime online
-The Corporation should last forever as long as the $10 renewal gets paid every year
-The Certificate of Incorporation can be used for other stuff also (think and be creative)
Disadvantages that I can think of
-$30 registration fee and the $10 annual renewal. So far I have paid $120 in fees to the State of Washington.
Also. For anyone thinking of forming a Washington State Non Profit Corporation for their Class III stuff, don't pay the extra $20 expedite fee. Your corporation is formed quicker but you do not get your Certificate of Incorporation any quicker and a copy of the Certificate is needed and sent in to the ATF with the rest of your paperwork
Any other thoughts or comments for Trusts vs Corporations?
Back in 2001 I formed a Washington State non Profit to hold my suppressors.
The one time Registration fee was $30
My annual renewals are $10.00 per year (I do this online and I file my annual report at the same time. Takes me ~10 minutes total to complete everything).
I can add Officers (Wife and Kids) to the Corporation online at anytime. Takes less than 5 minutes.
Advantages that I can think of:
-I'm told that the ATF processes the paper work for Corporations faster than for trusts (anyone know this for sure?)
-Able to add and remove Officers (Family) to the Corporation at anytime online
-The Corporation should last forever as long as the $10 renewal gets paid every year
-The Certificate of Incorporation can be used for other stuff also (think and be creative)
Disadvantages that I can think of
-$30 registration fee and the $10 annual renewal. So far I have paid $120 in fees to the State of Washington.
Also. For anyone thinking of forming a Washington State Non Profit Corporation for their Class III stuff, don't pay the extra $20 expedite fee. Your corporation is formed quicker but you do not get your Certificate of Incorporation any quicker and a copy of the Certificate is needed and sent in to the ATF with the rest of your paperwork
Any other thoughts or comments for Trusts vs Corporations?