Forming a Small Business - Applying for my Green Card
Oct 8th 2003, 2:48 pm
#1
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Forming a Small Business - Applying for my Green Card
Last edited by csf; Oct 8th 2003 at 6:46 pm.
Oct 9th 2003, 6:03 am
#2
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Re: Forming a Small Business - Applying for my Green Card
On Wed, 08 Oct 2003 14:48:08 +0000, csf wrote:
> Hi,
>
> Apologies if this is covered elsewhere, but I was hoping for a bit of
> advice. I am currently in the process of applying for my Green Card (On
> an H1-B for the time being). Once I receive my GC, I would like to form
> my own company. This would be a part-time business, one where I would
> essentially do software development on evenings and weekends whilst
> still keeping my current full time job.
>
> Is this doable?
In terms of immigration law, yes. You can do it as soon as you have an EAD
through your I-485, so you don't even need to wait for the Green Card.
> I have the company name I would like to use, but really need some advice
> as to:
>
> i) If it is a small company, do I register it as limited, plc, etc.?
As far as I know, PLC is a British type of company; I don't think it
exists in the US. There are a quite a few different types of corporation,
plus you can incorporate in any of the states, where each one has
different laws. Most people seem to incorporate either in their home state
or in Delaware.
You should hire a competent business attorney, or at least read some books
about it.
> ii) Where do I go to register it? I see there are certain web sites that
> claim to do it for $199.
I have seen it as low as $40 or so. Basically, these companies just
provide you with the forms for setting up a corporation. Do be aware that
depending on the nature of the business and your location, you may still
need all kinds of other paperwork - business licenses, permits (for
instance, in some cities it's not legal to run a business out of your
home), employmer identification number, all kinds of tax stuff.
> iii) I currently file joint taxes with my wife. Would I need to file
> seperately for my company?
It depends on the type of company. Many companies have to file an income
tax return annually, and then you file your own income tax return,
declaring whatever the company distributes to you as your income.
> iv) As I live in Manhattan, New York, are there any 'taxes' (you know
> the city loves to add these
that I need to pay just to be in
> business?
Almost certainly yes. I already mentioned some of the paperwork above, and
most of that is associated with corresponding fees or taxes.
> Again, apologies if this has been covered elsewhere, but I really need
> some advice
As I said, you need a good attorney to guide you, or at least a good book.
I recently saw "Starting your own business for Dummies". Not sure if that
helps, but it may get you started.
--
Remember, I am strictly a layperson without any legal training. I encourage
everybody to seek competent legal counsel rather than relying on usenet
newsgroups.
Please support H.R. 539, H.R. 832 and S. 1510. More information at
http://www.kkeane.com/lobbyspousal-faq.shtml
Please visit my new FAQ at http://www.kkeane.com (always under construction)
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my Web site for information on how to contact me.
Now with new photos! Please feel free to enjoy some of my photographs at my
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> Hi,
>
> Apologies if this is covered elsewhere, but I was hoping for a bit of
> advice. I am currently in the process of applying for my Green Card (On
> an H1-B for the time being). Once I receive my GC, I would like to form
> my own company. This would be a part-time business, one where I would
> essentially do software development on evenings and weekends whilst
> still keeping my current full time job.
>
> Is this doable?
In terms of immigration law, yes. You can do it as soon as you have an EAD
through your I-485, so you don't even need to wait for the Green Card.
> I have the company name I would like to use, but really need some advice
> as to:
>
> i) If it is a small company, do I register it as limited, plc, etc.?
As far as I know, PLC is a British type of company; I don't think it
exists in the US. There are a quite a few different types of corporation,
plus you can incorporate in any of the states, where each one has
different laws. Most people seem to incorporate either in their home state
or in Delaware.
You should hire a competent business attorney, or at least read some books
about it.
> ii) Where do I go to register it? I see there are certain web sites that
> claim to do it for $199.
I have seen it as low as $40 or so. Basically, these companies just
provide you with the forms for setting up a corporation. Do be aware that
depending on the nature of the business and your location, you may still
need all kinds of other paperwork - business licenses, permits (for
instance, in some cities it's not legal to run a business out of your
home), employmer identification number, all kinds of tax stuff.
> iii) I currently file joint taxes with my wife. Would I need to file
> seperately for my company?
It depends on the type of company. Many companies have to file an income
tax return annually, and then you file your own income tax return,
declaring whatever the company distributes to you as your income.
> iv) As I live in Manhattan, New York, are there any 'taxes' (you know
> the city loves to add these
that I need to pay just to be in> business?
Almost certainly yes. I already mentioned some of the paperwork above, and
most of that is associated with corresponding fees or taxes.
> Again, apologies if this has been covered elsewhere, but I really need
> some advice
As I said, you need a good attorney to guide you, or at least a good book.
I recently saw "Starting your own business for Dummies". Not sure if that
helps, but it may get you started.
--
Remember, I am strictly a layperson without any legal training. I encourage
everybody to seek competent legal counsel rather than relying on usenet
newsgroups.
Please support H.R. 539, H.R. 832 and S. 1510. More information at
http://www.kkeane.com/lobbyspousal-faq.shtml
Please visit my new FAQ at http://www.kkeane.com (always under construction)
My email address in usenet posts is now invalid for spam protection. See
my Web site for information on how to contact me.
Now with new photos! Please feel free to enjoy some of my photographs at my
new Web site http://www.ingopakleppa.com ! Comments are welcome.
