Legal Question in Business Law in Georgia

Foreign Corporation or Domestic Corporation

I've had a C-Corporation in Nevada for almost 5 years. Just relocated to Georgia. I believe that keeping the ''aged'' 5 year corporation will be better for business credit applications and shows more stability than a new corporation. I would have to file as a foreign corporation in Georgia. I would be doing most of my business in Georgia so my nexus would be here. I then understand that I would be subject to Georgia's taxes, etc. which is higher than Nevada. Nevada does have favorable tax advantanges,including no state or franchise tax. Should I file foreign in Georgia,domestic in Georgia or keep Nevada? Should I seek S-corp recognition, if domestic?

Thanks!


Asked on 9/10/04, 10:52 pm

1 Answer from Attorneys
Glenn M. Lyon, Esq. MacGREGOR LYON, LLC, Business Attorneys

Re: Foreign Corporation or Domestic Corporation

The answer depends on a lot of different information. You would need to speak to a CPA to help with the tax issues. If you would like to discuss your case in further detail, please feel free to call or e-mail me at the information below. I use a very competent tax consultant to assist with issues like yours. Thank you.

MacGregor Lyon, LLC

Promenade II

1230 Peachtree Street NE

Suite 1900

Atlanta Georgia 30309

Phone 404.942.3545

Fax 404.795.0993

[email protected]

www.ctl-law.com

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Answered on 9/13/04, 1:36 pm


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