Incorporating

[Bob P.]

We are currently in a partnership and wonder if anybody has gone thru incorporating their boat. Any info. appreciated. Websites, contacts,etc.

 

[Ron Dague]

Incorporate?

I'm a little intrigued. I admit that I've never thought about incorporating a "boat ownership group." I'm curious as to what benefits you think it might provide. Even if there is revenue, it would complicate tax filings.The normal reason people give is to protect themselves from liability. Normally this is a false sense of security. If there is an accident resulting in serious injury, any owners on the boat could be sued, corportation or not. In other words, if you run someone down while at the wheel, a corporate entity will do you no good. As to the non-present owners, only if the injured party could show that the maintenance of the boat was negligent. It doesn't seem very likely. Another unlikely possiblity is if you would charter your boat to someone incompetent. Even if it happens, the corporation shell might still not protect the individuals.I would think that an increased insurance policy, or perhaps a personal blanket liability policy would make more sense.Finally, I am an attorney. If you give me more information about your reasoning, I'll think on this further. Feel free to email me through my website at: www.explorescuba.comRon DagueS/V Finesse

 

[br smith]

it works for me

CorpAmerica, Inc. 30 old rudnick lane. Dover, Delaware 19901been incorporated for 5 years for my toys airplans and boats. they can do it over the phone and have you reg with state in about 30 min. Delaware is the corp capital of the world for about 150.00 and 50 a year.

 

[br smith]

CorpAmerica, Inc

toll free 888-736-4300. like i said i have a small plane and h-34 in my corp.planes are easy because they are not reg. with the state (faa) only and boats can be documented. i have know flying clubs that own planes and start corp for members to become owners, and if the club doesn't make money, why would the tax be a problem. it is much easier for members to come and go. hope this helps. call and they can answer your question, also if you change boats it no problem, just sell or trade , you don't have to change your corp.