Is it recommended to incorporate a commercial jump plane?

Should we incorporate a jump plane and are there advantages to being a delaware corporation.
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Answers (3)

Alan James Brinkmeier

Alan James Brinkmeier

Contributor Level 10
Is it a business?

Are you going to charge the public?

You have liability concerns you need to think through.

Assuming indeed you are thinking of a business, you might find helpful my Legal Guide

"Small Business Start"

http://www.avvo.com/legal-guides/ugc/small-business-start

I hope it helps.

You can limit personal liability by using the corporate form correctly.

You might find my Legal Guide helpful "How to Choose A Lawyer For You"

http://www.avvo.com/legal-guides/ugc/how-to-choose-a-lawyer-for-you

You might find my Legal Guide helpful " What Do I Tell My Lawyer"

http://www.avvo.com/legal-guides/ugc/what-do-i-tell-my-lawyer

You need a lawyer licensed in PA. Check with a lawyer in your locale to discuss more of the details.

Good luck to you.

God bless. I am in Chicago, IL.

NOTE: This answer is made available by the out-of-state lawyer for educational purposes only. By using or participating in this site you understand that there is no attorney client privilege between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed professional attorney that practices in NH in the subject practice discipline and with whom you have an atttorney client relationship along with all the privileges that relationship provides. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question.
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Ryan R Gile

Ryan R Gile

Contributor Level 3
Disclaimer: This answer is provided as a public service and as a general response to a general question, it is not meant, and should not be relied upon as specific legal advice, nor does it create an attorney-client relationship.

If the jump plane is part of a business, then it is probably better to do business as some form of juristic entity (corporation, LLC, etc.).

As for Delaware, the primary advantages of being a Delaware corporation relate to Delaware's well established corporate law. Major companies like to form their holding companies their for purposes of going public.

Depending on where you are going to be conducting your business, that's the state where you should incorporate. Incorporating in Delaware is most advisable if you plan on going public or if you are going to establish some kind of joint venture with some other big company that is familiar with the benefits of Delaware law. If you are a small business and not conducting business in Delaware, then its probably not worth the additional hassle because you will have to register your Delaware corporation as a foreign corporation in whatever jurisdiction you end up using anyway (e.g., Pennsylania). The cost of the foreign corporation registration is typically the cost as incorporating directly.

Contact a lawyer in whatever state you plan to conduct business to discuss the best way to establish your business based on your unique circumstances.
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Robert Wayne Olson Jr

Robert Wayne Olson Jr

Contributor Level 4
IMPORTANT: This answer is made available for educational purposes only. There is no attorney client privilege between you and the attorney responding. This site is not a substitute for competent legal advice from a licensed attorney that specializes in this area in your home state and with whom you have an atttorney client relationship. Also, law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question.

Let's not forget the most important reason why people buy planes or yachts with a Delaware corporation - there is NO SALES TAX due! Be careful though - states that want their sales tax revenue are starting to demand their sales (or use) tax if you bring the thing into your home state within too short a period of time.
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