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Subject: RE: [worldcruising] yacht incorporation
From: Rick H Kennerly (nh2f@XXX.XXX)
Date: Wed Sep 18 2002 - 16:35:08 EDT
Probably no harm, if you're a real corporation with a going concern and
using the boat in a legitimate way. However, if the sole purpose of
incorporation, according to the IRS, is to avoid paying taxes then it would
be fairly easy for any taxing entity not to mention creditor, or injured
party to "pierce the corporate veil" and revert you back to Joe Citizen.
Of course, if you have an attorney, now would be a good time to ask that
question officially and get a response in writing.
Rick Kennerly, NH2F
Rick the Mouseherder
Xapic, Westsail 32
Cabo San Juan, Puerto Rico
www.mouseherder.com/xapic
www.westsail.org
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