So Scott, you said to set things up as these "countries" have set things up. Then I would understand that CANADA is the corporation that HOLDS ASSETS and does not operate in commerce? The gov't is a TRUST which handles commerce on behalf of CANADA?
Then all corporations / persons registered within that TRUST are PROPERTY of that TRUST and all commerce done therein are interest of this TRUST?
I am trying to figure out which entity acts in commerce on behalf of all. It is my understanding that an entity that HOLDS assets should not be involved in commerce at all.
My question being, do I have it all backwards? Would not the registered entity be the one involved in commerce and the TRUST does not?
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Beverly Berta Braakschmack
And another thought, if I decided to pursue "enjoying a living", why would I register this endeavor with a bunch of bankrupt bottom feeders? Just because I would be using their shitty money?
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Beverly Berta Braakschmack
Yes, it IS deafeningly quiet here tonight.
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Jeff Roggers
The corporation is public and the trust is private
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August le Blanc · Bobis Youruncle
What corporation does not act in commerce? Beverly Girl-Brain Braaksma
That is the whole purpose.
Why cannot a holding corp or a corp that is trust property do business? It follows its bylaws...
Canada's are ACTs and Statutes..
The corp is the Trusts Agent in commerce.
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Jeff Roggers
Proxy
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Beverly Berta Braakschmack
A Trust is a legal entity that is structured in a way that it can legally take advantage of passthrough accounting. The proceeds pass through to its Beneficiaries. A Trust is the business of increasing assets. This is how the gov't doesn't pay taxes?
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Chris Evan
Beverly, in Canada do you have an option for a corporation that has "pass through" taxation? Here in the States, when a corp is registered, it defaults to a C-Corp (which gets taxed then distributes the profits to the shareholders who are taxed) or we can elect to be an S-corp (the profit is distributed to the shareholders then it is taxed). Its seems that S-corp status would be the way to go for us as any tax that is levied could be discharged through the Person in Trust. What do you think? Does this even exist in Canada?
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Beverly Berta Braakschmack
I really don't know. :/
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David Johansen
s corp is limited liability, which equates to limited surety.
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Beverly Berta Braakschmack
Oh. That's the difference? Yes we have that of course.
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Scott Duncan
I'm in Canada. You aren't. Think about that.
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Chris Evan
all corps are limited liability!
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Beverly Berta Braakschmack
no
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Scott Duncan
yes.
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Beverly Berta Braakschmack
not a proprietorship, but I guess that would be just registering a name
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Scott Duncan
EVERY corporation has limited liability. There are no exceptions.
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Scott Duncan
A sole proprietorship is NOT a corporation. It's a REGISTRATION.
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Beverly Berta Braakschmack
yah
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Scott Duncan
So...
EVERY corporation has limited liability. There are no exceptions.
EVERYBODY GET THAT?
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Beverly Berta Braakschmack
So a corporation that holds assets would not do any commerce?
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Scott Duncan
Depends on its charter.
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Beverly Berta Braakschmack
I guess being a holder of assets you would not want it to.
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Beverly Berta Braakschmack
Then the Trust it holds operates in commerce to pass through to the Beneficiaries, correct?
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Jeff Roggers
what type of corporation is the correct one and can you change your corporation from S to C
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Scott Duncan
Treat it like your bank. think of it as the "body" that holds assets IN TRUST... Like the guy that holds your weed. :D
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Chris Evan
I have a few Guatamalans (mules) that take care of my weeds. But I am sure not letting them hold my assets. :-\
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Chris Evan
Scott, once the lien is perfected, will it be necessary to create a documentary draft?
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Beverly Berta Braakschmack
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Beverly Berta Braakschmack
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Jeff Roggers
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August le Blanc · Bobis Youruncle
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Jeff Roggers
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Beverly Berta Braakschmack
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Chris Evan
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Beverly Berta Braakschmack
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David Johansen
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Beverly Berta Braakschmack
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Scott Duncan
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Chris Evan
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Beverly Berta Braakschmack
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Scott Duncan
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Beverly Berta Braakschmack
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Scott Duncan
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Scott Duncan
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Beverly Berta Braakschmack
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Scott Duncan
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Beverly Berta Braakschmack
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Scott Duncan
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Beverly Berta Braakschmack
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Beverly Berta Braakschmack
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Jeff Roggers
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Scott Duncan
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Chris Evan
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Chris Evan
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