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Author Topic: Living in Idaho & want to base my business in NH.  (Read 4196 times)

Allen72289

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Living in Idaho & want to base my business in NH.
« on: February 23, 2009, 12:29:34 am »

I do plan on moving to NH in at least 1 year.

However, I am operating a gold mine in Idaho at the moment.

I was wondering how could it be possible to benefit from NH's taxes & register a corporation in NH while working in Idaho.

 ???
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Fishercat

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Re: Living in Idaho & want to base my business in NH.
« Reply #1 on: February 23, 2009, 10:01:11 am »

The answer to that question is more a matter of the laws of Idaho than NH.

Simply registering a corporation in NH, with no other changes, would be very unlikely to change your Idaho tax.  How Idaho would treat a business that is physically based out of state, but has in-state operations, is a matter of Idaho law.
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Sam A. Robrin

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Re: Living in Idaho & want to base my business in NH.
« Reply #2 on: February 23, 2009, 12:26:28 pm »

Isn't Delaware the state for that?  Research their corporation laws, then check with a shaman-- I mean lawyer . . .
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vjenks

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Re: Living in Idaho & want to base my business in NH.
« Reply #3 on: February 23, 2009, 12:29:58 pm »

I do plan on moving to NH in at least 1 year.

However, I am operating a gold mine in Idaho at the moment.

I was wondering how could it be possible to benefit from NH's taxes & register a corporation in NH while working in Idaho.

 ???

Hi Allen,

I too live in Idaho at the moment and am moving to NH very soon (hopefully this year).  Where is your mine?  I work with a lady whose husband owns part of a stake in a mine and works there.

Sorry, don't have anything to offer, unfortunately...just curious where you're at.  It's exciting to see liberty-loving Idahoans flock to the FSP! :)
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Fishercat

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Re: Living in Idaho & want to base my business in NH.
« Reply #4 on: February 23, 2009, 12:43:40 pm »

Isn't Delaware the state for that?  Research their corporation laws, then check with a shaman-- I mean lawyer . . .

I think that more of a liability issue, rather than a tax issue.

When I was looking into it a few years ago, it seemed like most other states had adopted Delaware-style protections and so the benefit of registering in Delaware was less clear.

Specifically because of the number of Delaware Corporations, I would be surprised if there is any state that doesn't know how to tax them.
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sj

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Re: Living in Idaho & want to base my business in NH.
« Reply #5 on: February 23, 2009, 02:25:04 pm »

I'm not a lawyer, and you'd probably need to speak with one.

However, I'm fairly sure that Idaho will tax you just the same if you are based in ID or NH (or any other state for that matter).
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Fishercat

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Re: Living in Idaho & want to base my business in NH.
« Reply #6 on: February 23, 2009, 07:05:22 pm »

Another point of interest.

While NH does not have a general income tax, it does have a business tax.  You apportion your income for NH -based activities, which would hopefully prevent you from getting taxed on the same money by both states.   However, it is likely that any earning you managed to "shelter" by operating in NH would be subject to this tax.
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Allen72289

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Re: Living in Idaho & want to base my business in NH.
« Reply #7 on: February 24, 2009, 01:41:04 am »

Looks like I'll need to read NH and ID laws.

My mine is in Section 6 east 36n in Clearwater county. AJ Placer. 10 miles outside of Pierce, where about are you, Vjenks?

I'm not mining it atm, there is 5 feet of snow!!!  :o

I'll pro'lly relocate to another area in which there are no water ways or trees because the Forest Ranger did not allow me to dredge the creek or harvest the timber. Public land, so counter-productive!.  ::)

It is very easy to "shelter" revenue from a gold mine via grey market.

The corporation is for another business idea.

Thanks guys!

P.S. I'll update this later!
« Last Edit: February 24, 2009, 02:20:48 am by Allen72289 »
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Fishercat

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Re: Living in Idaho & want to base my business in NH.
« Reply #8 on: February 24, 2009, 09:38:46 am »

This may be useful for looking at the NH side.   It's a state website.

http://www.nheconomy.com/business-services/start-a-business-in-nh/
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vjenks

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Re: Living in Idaho & want to base my business in NH.
« Reply #9 on: February 24, 2009, 11:25:10 am »

My mine is in Section 6 east 36n in Clearwater county. AJ Placer. 10 miles outside of Pierce, where about are you, Vjenks?

I'm not mining it atm, there is 5 feet of snow!!!  :o

I live and work in Boise...the liberal epicenter (such as it is) of Idaho. ;)
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citizen_142002

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Re: Living in Idaho & want to base my business in NH.
« Reply #10 on: April 19, 2009, 07:56:39 pm »

I'm not sure the quantities of gold you're dealing with in your operation or whether ID sales tax applies to the sales you make. If it does, you may be able to create a corporation or entity in New Hampshire that handles the sale of the gold through the web or just over the phone if it's primarily a wholesale operation. I'm not a legal expert by any means, and I'm not sure if this would be legal. My feeling is that the gold is probably not subject to a general sales tax anyhow, but if it is that's the only advantage I can see to moving the business.
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