Incorporation

Bob Pence · Post by **Bob Pence** » Nov 8th, '99, 22:25

I have been incorporated in Delaware since 1984. There are more corporations registered in Delaware than any state in the union. Try Yacht Registry Ltd. in Wilmington, you must have an agent to incorporate. Initial fee as I remember is a couple of hundred dollars and about $75 per year thereafter including $50 Delaware tax. After incorporating you can use the corporation to own the boat. You can also use it for business purposes by applying to IRS for Sub Chapter S Corporation and receive a Tax ID number. Often you can get discounts from suppliers using corporate name. Bob Pence, Pres. Transoceanic Outfitters Inc. (a Delaware Corporation)It is especially useful to liveaboards who have no residence. The boat is then elgible for Delaware state registration, $35 annually and you can become a Delaware resident, license your moped there etc.

sixpence@dmv.com