FAQs
Frequently Asked Questions

HOW DO I GO FORWARD? Go to Our Forms, and complete the secure online shelf corporation acquisition form to purchase from us a California shelf corporation.

WHO AM I DEALING WITH? You are dealing with a California attorney at law. This internet site is owned and operated by the Law Offices of James R. Urquhart III, A Professional Law Corporation, California Attorneys and Counselors at Law. We have been practicing law in California since 1977.  Click here for more information about us.

HOW OLD IS THE SHELF CORPORATION? See the table at the top of our home page for the years we are currently offering. For example, if you buy a 2012 shelf corporation, you are buying a California corporation with Articles of Incorporation filed by the California Secretary of State in 2012.

WHAT DATE OF INCORPORATION WILL MY SHELF CORPORATION HAVE? Again, if you purchase a 2012 shelf corporation, for example, the date of incorporation will be in 2012. That means that the Articles of Incorporation were filed by the Secretary of State in 2012.

WILL MY SHELF CORPORATION HAVE A FEDERAL / IRS EMPLOYER IDENTIFICATION NUMBER (EIN)? Yes, the EIN will be supplied to you when you go forward. You will also receive a copy of the official IRS letter / notice that assigned the EIN to the corporation.

WHAT NAME WILL MY SHELF CORPORATION HAVE? When we form our shelf corporations, we us use a neutral or generic corporation names like XYZ Holdings, Inc. Most shelf corporation purchasers use the name as it. Keep in mind that a corporation can use one or more fictitious business names provided it files the required Fictitious Business Name Statement with the relevant County. If you wish, however, we will change the corporation name to another available corporate name. Please note that a name change, while at no extra charge, will delay the process while we file the necessary papers with the California Secretary of State, i.e. you will not get your corporation kit until AFTER the name change is filed and returned by the Secretary of State.

IN WHAT STATE IS MY SHELF CORPORATION INCORPORATED? All our shelf corporations are formed in the State of California, USA.

WHEN WILL I FIRST SEE THE ARTICLES OF INCORPORATION FOR MY SHELF CORPORATION? Immediately after you make the purchase. We will send you, by email, a PDF image of the Articles that shows the California corporation number assigned by the California Secretary of State as well as the date of incorporation.

HOW MANY SHARES OF STOCK WILL MY SHELF CORPORATION HAVE? It will have one million (1,000,000) shared of common stock authorized. The shelf corporation has never issued any shares of stock. After you buy the shelf corporation, you will be the very first shareholders / owners of the corporation after you take that action.

WHAT ABOUT SUBCHAPTER S? Your shelf corporation will be a general for-profit corporation that has never elected IRS / Federal subchapter S status. You can elect subchapter S status after you buy the shelf corporation. In other words, if you desire S Corporation status, you are free to make that election at a future date subject to IRS rules and regulations on timeliness. We will prepare, at no additional cost, the IRS S corporation application (IRS Form 2553) if you so desire. It will be up to you, however, to file the S corporation application.

WHAT ABOUT TAXES AND TAX RETURNS? PLEASE READ THIS. IT'S VERY IMPORTANT. The shelf corporations we sell have been totally inactive. That means they have never had income, they have never had assets or bank accounts, they have never had operations or activity of any kind. To protect your ability to elect the tax year of your choice, neither state nor federal income tax returns have ever been filed, no taxes of any kind have ever been paid to anyone, and no minimum tax payment has ever been made to the California Franchise Tax Board. Naturally, taxes and tax returns are your responsibility.

HOW FAST CAN I OPEN A BANK ACCOUNT AND START BUSINESS? All banks are different. Some are easy to work with, some are not. Bank policy varies greatly. Depending on the bank, opening a corporation bank account can be hard, or it can be easy. Within 24 hours we will supply you (by email by PDF image) with the corporation's Federal (IRS) employer identification number (EIN) as well as other documents to show that you control the corporation. Banks and other financial institutions require the corporation's EIN before they will open a checking, savings, or other account for the corporation.

WHO WILL BE THE PRESIDENT, SECRETARY AND TREASURER OF THE SHELF CORPORATION? The shelf corporation will have first minutes, and other charter documents drawn according to your wishes. You name expected or anticipated first directors, officers and shareholders when you complete our online form to buy the shelf corporation. Please note that corporation charter documents are not effective until they are duly signed by the proper parties and the named parties have accepted those positions.

WHY DO PEOPLE BUY A SHELF CORPORATION? Because some people can't wait (or do not want to wait) the many weeks that it now takes the Secretary of State to act of filings. For example, someone may be buying a business now and can't wait for a new corporation to be formed. Another example would be someone that needs to hire employees right away with the corporation as the employer and can't wait for a new corporation to be formed.