So I’ve gotten everything in with the Secretary of State for getting the “corporation” started. Now I have the honor to hurry up and wait for the bureaucratic process to mosey along and maybe, eventually, end up being completed… whoo-hoo!
I hear you asking, “But Garrett, why not start with something simpler, maybe a Sole-proprietorship or a Limited Liability Company?!” And yes, while that may have been a simpler route, it would leave me in a complicated situation after a few years and lacks the future-oriented outlook that I have for the whole project.
As it stands I’ll be able to do both charitable and for-profit work. If I find business to be booming, I can always start a (dedicated) non-profit subsidiary corporation to help keep the two things separate and on track. I don’t have to worry about that for a while though, I think I’ll thankfully have plenty of time to get the feel for business demand and the extent of the need for the non-profit work.
A quick addendum, I started writing this around 11/23/21 and today is the 26th. I received the stamp of approval from both the Secretary of State and the State Tax Department! Literally starting a week off to winterize around the house, but as soon as I get the official papers in the mail you can bet that I’ll have a bank account opened so I’m 100% ready to do business (officially!).
Anyway, that’s the only real update for now! Hope everyone had a fantastic Thanksgiving!
Be kind to one another, kindness is contagious! Let’s start a pandemic of kindness instead of sickness!
Let us know what you and your kids think…