Corp/LLC Start-up
There are three ways to incorporate:
- File yourself directly with state (strongly unadvised unless you are well versed and have expertise in this area.)
- Hire a law firm (an excellent idea if you have unique and special requirements and needs... more costly and possibly time consuming)
- Utilize one of the specialty incorporating services
There are several states that are extremely easy and inexpensive to incorporate in, including Delaware and Nevada. These two states do not have sales tax. Please don't incorporate in these states and then base and operate your aircraft in another state that does have sales tax, as the Department of Revenue/Taxation Enforcement guys are going to find you through F.B.O. records and then not only will you have to pay the tax due but fines and penalties... simply put, it's just not worth it.
Corporations (C-Corps, Sub-S, LLC's) offer a level of personal liability protection subject to many factors. We highly recommend them if you're going to lease your aircraft, enter into a partnership with other individuals or entities, or if someone other than yourself will be flying the aircraft.
Feel free to contact Aircraft Banking Centers to review your options. We recommend the incorporating service companies if your needs are not complex, otherwise proper legal advice should be considered.
More Information:
- CourtAccess Centers
- Delaware Registry, Ltd.
- The Company Corporation
- Delaware Corporations LLC
- Corp 95
