Guam Small Business Startup Package for S-Corporation

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State:
Multi-State
Control #:
US-P107-PKG
Format:
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Description

The package is designed to assist an S corporation in running the corporation by providing a large selection of necessary and commonly used forms at a greatly reduced price. The forms provided are valuable tools to ensure the smooth operation of typical business affairs. Purchase of this package is a savings of over 75% off the price compared to purchase of the forms individually!


The documents in this package include the following:



Profit and Loss Statement - This is a general Statement of Profits and Losses for a company. It lists in detail, all profits, or gains, as well as all losses the business may have suffered. This form can be used by any type of company, whether a corporation or a sole proprietor.







2553-S Corp Election for Small Business - This form is used to be treated as a subchapter S corporation by the IRS.



General Trademark License Agreement - This form is a Trademark License Agreement. The licensor is the owner of certain trademarks and the licensee desires to use the trademark on the terms and conditions set forth in the agreement. The licensor agrees to grant to the licensee an exclusive worldwide right and license to use the trademark in connection with the licensee's product.



Investor Stock Purchase Agreement - This is a form authorizing the sale of stock to investors in a company. Detailed provisions cover the representations and warranties of both parties, as well as the specifics of the transaction.



Amendment to Bylaws - This is an Amendment to the Bylaws form, to be used across the United States. This is to be used as a model, and should be modified to fit one's own personal needs.


Job Invoice-Short - This form is a job invoice form. It contains provisions for a job description, starting date, completion date, date and hours worked, list of materials and costs, and an itemized statement of total due for materials, labor, and other.








Employment Agreement - General - This form is used when an Employee agrees to be employed by Employer, and the Employer agrees to employ the Employee, for the purpose of performance by and on behalf of Employer services as may be reasonably requested from time to time by the Employer. The agreement contains provisions for compensation, confidentiality, non-competition and breach of contract.



Employment Agreement with Covenant Not to Compete - This form is used when an Employee agrees to be employed by an Employer, and the Employer agrees to employ the Employee, for the purpose of performance by and on behalf of the Employer as may be reasonably requested from time to time by the Employer. This agreement contains a covenant not to compete clause.



Self-Employed Independent Contractor Employment Agreement General - A company agrees to hire a contractor to perform work on the terms and conditions set forth in the agreement. The contractor agrees that all financial and accounting records will remain the confidential property of the company. The form also provides that the company will reimburse the contractor for all reasonable and necessary expenses incurred by the contractor with the performance of his/her duties.



Secrecy, Nondisclosure and Confidentiality Agreement by Employee or Consultant to Owner - The first party has possession of proprietary information and know-how relating to an idea, product or service, and wishes to employ the second party but desires that the second party agree not to disclose information learned by second party during such employment. Both parties agree that all information, ideas, products or services, processes, written material, samples, models and all other information of any type, whether written or oral, submitted to the second party by the first party is now, and will remain, the property of first party.



Drug Testing Policy Disclosure and Consent Form - This form explains the drug testing policies of a particular company and includes a consent form.



Employee Permission to Do a Background Check - This is a form signed by an employee or prospective employee granting an employer permission to do a background check.



Employment Position Announcement - This form is a business type form that is formatted to allow you to complete the form using Adobe Acrobat or Word. This form allows an employer to announce that applicants for a position with the company are being sought.


Consultant Agreement - This form is a Consultant Agreement for use with consultants exposed to commercial trade secrets or other confidential information as part of their work with a business.


Internet Use Policy - This agreement is to be signed by an employee upon the request of a company concerning the proper uses of internet access. The agreement defines acceptable uses and states that the inappropriate use of the Internet may lead to denial of access or other action by the company.



Also included in this package are: Employment Termination Agreement, Cash Disbursements and Receipts, Check Request form, Daily Accounts Receivable, Yearly Expenses by Quarter, Petty Cash Form and Purchasing Cost Estimate

Guam Small Business Startup Package for S-Corporation is a comprehensive and tailored solution designed to assist entrepreneurs in establishing and managing their small businesses in Guam. This package provides a range of essential services and resources necessary for the successful launch and growth of an S-Corporation. Key Features: 1. Business Entity Formation: Our package includes all the necessary documentation and legal support required to register your S-Corporation, ensuring compliance with Guam's laws and regulations. 2. Tax Identification Number (TIN) Application Assistance: We guide you through the process of obtaining a TIN from the Guam Department of Revenue and Taxation, which is crucial for tax reporting and compliance purposes. 3. Business Plan Development: A detailed and professional business plan is drafted, outlining your company's goals, strategies, marketing approaches, and financial projections. This plan serves as a roadmap for potential investors and lenders. 4. Registered Agent Services: We provide a registered agent for your S-Corporation, ensuring that all legal documents, summons, and notices are promptly delivered to your business entity. 5. Financial Management Tools: Our package includes assistance in setting up accounting systems, payroll management, and budgeting frameworks, enabling you to efficiently track and manage your finances. 6. Compliance Assistance: We help you navigate Guam's legal and regulatory requirements, ensuring that you remain in good standing. This includes assistance with annual reports, licenses, permits, and other compliance obligations. 7. Intellectual Property Protection: We offer guidance on trademark registration and other forms of intellectual property protection, safeguarding your business's unique identity and ideas. 8. Market Research: Our experts conduct thorough market research specific to Guam's market, helping you identify target customers, assess competition, and develop effective marketing strategies. Types of Guam Small Business Startup Packages for S-Corporation: 1. Basic Startup Package: This package includes essential services such as business entity formation, TIN application assistance, and compliance guidance. 2. Advanced Startup Package: In addition to the services provided in the basic package, this package offers more comprehensive assistance, including business plan development, financial management tools, and registered agent services. 3. Premium Startup Package: Designed for entrepreneurs seeking an all-in-one solution, this package includes all the services mentioned above, along with additional features like intellectual property protection and market research. In conclusion, Guam Small Business Startup Package for S-Corporation offers a range of services and resources necessary to establish and operate a successful small business. These packages can be tailored to meet the specific needs and goals of entrepreneurs, providing them with a solid foundation for their S-Corporation.

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FAQ

If there will be multiple people involved in running the company, an S-Corp would be better than an LLC since there would be oversight via the board of directors. Also, members can be employees, and an S-Corp allows the members to receive cash dividends from company profits, which can be a great employee perk.

In the early stages, most startups will adopt a flat org structure. This helps create faster expansion because it's less structured than competitors that may have complex management hierarchies. It also fosters faster decision-making. A flat org structure has few (or no) layers of management.

Corp is a fully separate legal entity, responsible for paying corporate taxes and issuing annual reports. It must also appoint a board of directors. It will probably seem like more structure than you need when you're just starting, but if you plan to raise money, a CCorp is typically the right answer.

Sole proprietorship or an LLC is best suited for startup owners who want to maintain sole or primary control over the company and its activities, but this can also be negotiated when developing a partnership agreement. In the beginning, the same can be said for corporations.

STEPS ON HOW TO START A CORPORATION IN GUAM STEP 1: CHOOSING A NAME. ... STEP 2: DIRECTORS, SHAREHOLDERS, AND OFFICERS. ... STEP 3: FILING YOUR ARTICLES. ... STEP 4: ORGANIZATION AND BYLAWS. ... STEP 5: GET A GUAM GENERAL BUSINESS LICENSE. ... STEP 6: GUAM MANAGING AGENT / GUAM REGISTERED AGENT. ... STEP 7: BUSINESS PRIVILEGE TAX REQUIREMENTS.

Sole proprietorship or an LLC is best suited for startup owners who want to maintain sole or primary control over the company and its activities, but this can also be negotiated when developing a partnership agreement. In the beginning, the same can be said for corporations.

Ready to Start a Business in Guam? Pick a Business Structure. Name Your Business. File Formation Paperwork. Draft Internal Records. Get Guam Business Licenses. Get Business Insurance. File the Guam Sworn Annual Report. Build Your Business Website.

Because S Corps are not taxed at the corporate level, you can avoid double taxation and save money on taxes. However, if you plan to reinvest profits back into the company, a C Corp may be more beneficial, as they can retain earnings at lower tax rates.

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Download the file. After the Small Business Startup Package for S-Corporation is downloaded you can fill out, print out and sign it in any editor or by hand. If you want to start a Guam LLC, you must file paperwork with the Guam Department of Revenue and Taxation (DRT). Guam Corporation. Corporations have strict ...STEP 1: CHOOSING A NAME · STEP 2: DIRECTORS, SHAREHOLDERS, AND OFFICERS · STEP 3: FILING YOUR ARTICLES · STEP 4: ORGANIZATION AND BYLAWS · STEP 5: GET A GUAM ... S Corporations (S corps). S Corps are typically small businesses and give you the benefit of incorporation with the tax-exempt privileges of a partnership. Oct 2, 2023 — There are many ways to start a business in Guam. You can start your own business as a small business owner or an entrepreneur. This publication has information on business income, expenses, and tax credits that may help you, as a small business owner, file your income tax return. This ... Business Privilege Tax Branch ; Application Package for Tax Exempt Organizations. Form 1023-EZ · Form 1023 · Form 1024-A · Form 1024 · Farmers Exemption · Annual ... Jun 30, 2023 — Step 1: Select Your State. The S corp filing process varies by state. · Step 2: Name Your Business · Step 3: Choose a Registered Agent · Step 4: ... With the continued interest that small businesses have in electing S corporation status and with the important progress S corporations will achieve with the ... It is the primary form for collection of information about foreign corporations with substantial U.S. ownership and U.S. shareholders file Form 5471 to satisfy ...

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Guam Small Business Startup Package for S-Corporation