Forums: Discussions for entrepreneurs and small business.

Hello,

 

Last year I bought a NV shelf corp Now is 4 y/o. I never did anything with it. I bought to build business credit. Now I moved to CA. Should I still use that corp. or should I purchase a CA corp. What would be better for building business credit.

 

Might add that this corporation that I bought now it has been 4 months in default so I would have to pay about $700.00 to reinstate it. Before I bought it had had a name change already that I didn't know.

 

thank you

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You have to way the pros and cons of both.  NV corps offer better tax advantages or less regulation - which might be better in the long run.

I don't think that many lenders care where you are registered just as long as your other measures are OK.  Plus, there are many lenders that won't touch a CA business - just too many rules and regulations.

Lastly, how has the business credit worked for you?  Did it provide any benefit at all?

Best of Luck!

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