The fact that Telanis may not have been incorporated doesn't effect Cashco, if anything it would affect Telanis, but not in a doom and gloom way. The worst that could happen is that the business would be treated like a sole proprietorship, or a partnership. All that means is that they would end up paying income tax on any money earned by Telanis.
If there was a concern on Cashco's part, they would have to show damages that were caused by the lack of incorporation. In this case none, since , as the press release stated, the software is still in the development stages, and no money has changed hands yet.
If anything, it gives Cashco a back door to get out of the deal should the deal go sour.
Deleware has the same benefits that Nevada has in incorporating. You should see more and more companies switching or starting from these two states.
Hey, I'd rather see a company I have shares in, put the money towards the bottom line, or R & D, rather than income tax.
|
