C corporation

But there are certain check marks.

So a company has to have, it has to be a brand new formed C Corp, right? It has to have under $50 million in assets.

And it can't be in the financial services lane, right? That is, I mean, you could, and that's a lot, right? There's a lot you can work with.

Oh, so

They don't realize the multitude of other things they could do.

Let's say I own my business and it's incorporated in Delaware as a C Corp, but I live here in California.

And let's say I want to exit three years from now, or I intend to structure the business and put it on the market to sell three years from now.

If I move to another state at some point in time and then make the sale, do I still get taxed for the shares that appreciated while living in California?

All incentives.

What about business structures? Because if we're talking about planning ahead of time, I think you have this line where good exit planning is great business planning.

If you're at the relative start of the business, maybe you're in it for maybe less than two years, and you're trying to think of how to structure the company as it's growing so that you can preserve as much wealth as possible so that in the future, if you do exit or if you just continue to own it and grow it, is there... an advantage between going towards, you know, like a Delaware C Corp or like electing S Corp status, depending on what state that you live and the nature of the business itself.

Because, for example, like my business is we focus primarily on like consulting and we do like almost like R&D implementation.

OK, well, I'm going to think through all that because obviously there's there's a lot to think through.

But even before that had become something to think about, my plans were actually looking at building a C Corp that was going to be called It All Matters.

And the acronym would be I am.

And the reason why for It All Matters is because it does.

and do you know our due diligence to make sure as much as possible especially if it's a new idea i mean you can't obviously you can't you can't say negative to something that you that no one's ever done before you have to just kind of take your chances so obviously there's a lot of risks becoming an entrepreneur in general so if someone has an idea they feel passionate about it and we can't prove that it's a bad idea or an illegal idea or something that someone has tried and failed then as long as that person is committed to doing it i will work with them you know i will Guide them and say, like, for instance, the exit thing, I have a client that set up a company with the wrong business structure before we met.

And I happen to know that in general to exit, if you're doing a company, you need to be a C Corp.

If you try to exit in a kind of high level, you know, technical way, like these are tech companies.

Right.

I think there's, you know, Millet, the president of Argentina, wrote an op-ed for the Financial Times.

And basically he was like, what's the successor to the LLC and the C Corp? And we need that for agents.

And I noted it was interesting because that op-ed came out about one week after his report that Peter Thiel moved to Argentina.

So I was like, hmm.

It definitely matters how your business is structured.

So if you're an LLC or an S Corp or a C Corp, you're stuck with one payment.

Even if you have five owners, you're stuck with one payment.

If you're a partnership and you have five owners, you have five payment limits.