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Your access to and use of this website, as well as all related websites operated by Financial Goodness LLC and George “G3 Pure” Alexander Roy III (which includes stan.store/financialgoodnesswealth, among others) (collectively the “Site”) is subject to the following terms and conditions (“Terms of Use”) and all applicable laws. By accessing and browsing the Site, you accept, without limitation or qualification, the Terms of Use and acknowledge that any other agreements between you and the Site are superseded and of no force or effect:

You agree that the Site itself, as well as all content, videos, training materials, products, services and/or other materials, made available on the Site by us or other third parties, as well as the look and feel of all of the foregoing, (collectively referred to as the “Content”) are maintained for your personal use and information by Financial Goodness LLC (the “Company”) and are the property of the Company and/or its third party providers. You agree that such Company Content shall include all proprietary videos, HTML/CSS, JavaScript, graphics, voice, and sound recordings, artwork, photos, documents, and text as well as all other materials included in the Site, excluding only the materials you provide. Subject to your compliance with these Terms of Use, the Company hereby grants you a limited license, which is non-exclusive, non-transferable, and non-sublicensable, to access, view, and use the Site solely for your personal purposes. No Company Content may be copied, reproduced, republished, uploaded, posted, transmitted, distributed, used for public or commercial purposes, or downloaded in any way unless written permission is expressly granted by the Company. Modification of the Content or use of the Content for any other purpose is a violation of the copyright and other proprietary rights of the Company, as well as other authors who created the materials, and may be subject to monetary damages and penalties. You may not distribute, modify, transmit or use the content of the Site or any Content, including any and all software, tools, graphics and/or sound files, for public or commercial purposes without the express written permission of the Company.
All Content, such as text, data, graphics files, videos and sound files, and other materials contained in the Site, are copyrighted unless otherwise noted and are the property of the Company and/or a supplier to the Company. No such materials may be used except as provided in these Terms of Use.
All trade names, trademarks, and images and biographical information of people used in the Company Content and contained on the Site, are either the property of, or used with permission by, the Company. The use of Content by you is strictly prohibited unless specifically permitted by these Terms of Use. Any unauthorized use of Content may violate the copyright, trademark, and other proprietary rights of the Company and/or third parties, as well as the laws of privacy and publicity, and other regulations and statutes. Nothing contained in this Agreement or in the Site shall be construed as granting, by implication or otherwise, any license or right to use any Trademark or other proprietary information without the express written consent of the Company or third-party owner. The Company respects the copyright, trademark and all other intellectual property rights of others. The Company has the right, but has no obligation, to remove content and accounts containing materials that it deems, in its sole discretion, to be unlawful, offensive, threatening, libelous, defamatory, pornographic, obscene or otherwise objectionable or violates any party’s intellectual property or these Terms of Use. If you believe that your intellectual property rights are being violated and/or that any work belonging to you has been reproduced on the Site or in any Content in any way, you may notify the Company at george@financialgoodness.com. Please provide your name and contact information, the nature of your work and how it is being violated, all relevant copyright and/or trademark registration information, the location/URL of the violation, and any other information you believe is relevant.
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NEITHER THE COMPANY NOR ANY OTHER PARTY INVOLVED IN CREATING, PRODUCING, OR MAINTAINING THE SITE AND/OR ANY CONTENT ON THE SITE SHALL BE LIABLE UNDER ANY CIRCUMSTANCES FOR ANY DIRECT, INCIDENTAL, CONSEQUENTIAL, INDIRECT, OR PUNITIVE DAMAGES ARISING OUT OF YOUR ACCESS TO OR USE OF THE SITE. WITHOUT LIMITING THE FOREGOING, ALL CONTENT ON THE SITE IS PROVIDED “AS IS” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. THE COMPANY DOES NOT WARRANT OR MAKE ANY REPRESENTATIONS REGARDING THE USE OF THE MATERIALS IN THE SITE, THE RESULTS OF THE USE OF SUCH MATERIALS, THE SUITABILITY OF SUCH MATERIALS FOR ANY USER’S NEEDS OR THE LIKELIHOOD THAT THEIR USE WILL MEET ANY USER’S EXPECTATIONS, OR THEIR CORRECTNESS, ACCURACY, RELIABILITY, OR CORRECTION. THE COMPANY LIKEWISE DOES NOT WARRANT OR MAKE ANY REPRESENTATIONS OR GUARANTEES THAT YOU WILL EARN ANY MONEY USING THE SITE OR THE COMPANY’S TECHNOLOGY OR SERVICES. YOU ACCEPT ALL RESPONSIBILITY FOR EVALUATING YOUR OWN EARNING POTENTIAL AS WELL AS EXECUTING YOUR OWN BUSINESS AND SERVICES. YOUR EARNING POTENTIAL IS ENTIRELY DEPENDENT ON YOUR OWN PRODUCTS, IDEAS, TECHNIQUES; YOUR EXECUTION OF YOUR BUSINESS PLAN; THE TIME YOU DEVOTE TO THE PROGRAM, IDEAS AND TECHNIQUES OFFERED AND UTILIZED; AS WELL AS YOUR FINANCES, YOUR KNOWLEDGE AND YOUR SKILL. SINCE THESE FACTORS DIFFER AMONG ALL INDIVIDUALS, THE COMPANY CANNOT AND DOES NOT WARRANT OR MAKE ANY REPRESENTATIONS OR GUARANTEES REGARDING YOUR SUCCESS OR INCOME LEVEL. THE COMPANY DOES NOT WARRANT THAT USE OF THE MATERIALS WILL BE UNINTERRUPTED OR ERROR FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT THIS SITE, THE CONTENT, AND/OR THE MATERIALS AVAILABLE ON THIS SITE ARE FREE FROM BUGS OR VIRUSES OR OTHER HARMFUL COMPONENTS. YOU ASSUME ALL RESPONSIBILITY FOR THE COST OF ALL NECESSARY REPAIRS OR CORRECTIONS. THE COMPANY SHALL NOT BE RESPONSIBLE FOR ANY PERFORMANCE OR SERVICE PROBLEMS CAUSED BY ANY THIRD-PARTY WEBSITE OR THIRD-PARTY SERVICE PROVIDER. ANY SUCH PROBLEM SHALL BE GOVERNED SOLELY BY THE AGREEMENT BETWEEN YOU AND THAT PROVIDER. Please note that the applicable jurisdiction may not allow the exclusion of implied warranties. Some of the above exclusions may thus not apply to you.
THE COMPANY SHALL NOT BE RESPONSIBLE FOR ANY PERFORMANCE OR SERVICE PROBLEMS CAUSED BY ANY THIRD-PARTY WEBSITE OR THIRD-PARTY SERVICE PROVIDER (including, for example, your web service provider service, Stripe payment services, your software and/or any updates or upgrades to that software). ANY SUCH PROBLEM SHALL BE GOVERNED SOLELY BY THE AGREEMENT BETWEEN YOU AND THAT PROVIDER. THE COMPANY RESERVES THE RIGHT TO DETERMINE, IN ITS SOLE DISCRETION, WHETHER THE COMPANY IS RESPONSIBLE FOR ANY SUCH MALFUNCTION OR DISRUPTION. THE COMPANY ALSO RESERVES THE RIGHT TO LIMIT YOUR USE OF THE SITE AND/OR THE CONTENT OR TO TERMINATE YOUR ACCOUNT SHOULD THE COMPANY DETERMINE THAT YOU HAVE VIOLATED THESE TERMS OF USE, OR THAT YOU HAVE VIOLATED ANY OTHER RULES OR CONDITIONS OF THE COMPANY. THE COMPANY RESERVES THE RIGHT TO REFUSE ACCESS TO THE SITE AND/OR THE COMPANY’S CONTENT, PRODUCTS AND/OR SERVICES TO ANYONE IN ITS SOLE DISCRETION. THE COMPANY RESERVES THE RIGHT TO DETERMINE, IN ITS SOLE DISCRETION, WHETHER THE COMPANY IS RESPONSIBLE FOR ANY SUCH MALFUNCTION OR DISRUPTION. DUE TO THE NATURE OF THE DIGITAL PRODUCT, THERE ARE NO REFUNDS OFFERED.
You agree that you will pay for all products you purchase through the Company. YOU ARE RESPONSIBLE FOR THE TIMELY PAYMENT OF ALL FEES AND FOR PROVIDING THE COMPANY WITH A VALID PAYMENT METHOD FOR PAYMENT OF ALL FEES. ALL SALES OF PRODUCTS ARE FINAL. Prices for products offered by the Company may change at any time, and the Company does not provide price protection or refunds in the event of a price reduction or promotional offering. If a product becomes unavailable following a transaction but prior to download, your sole remedy is a refund. If technical problems prevent or unreasonably delay delivery of your product, your exclusive and sole remedy is either replacement or refund of the price paid, as determined by the Company.
IN NO EVENT SHALL THE COMPANY BE LIABLE FOR ANY SPECIAL, INCIDENTAL, INDIRECT, PUNITIVE, RELIANCE OR CONSEQUENTIAL DAMAGES, WHETHER FORESEEABLE OR NOT, INCLUDING, BUT NOT LIMITED TO, DAMAGE OR LOSS OF PROPERTY, EQUIPMENT, INFORMATION OR DATA, LOSS OF PROFITS, REVENUE OR GOODWILL, COST OF CAPITAL, COST OF REPLACEMENT SERVICES, OR CLAIMS FOR SERVICE INTERRUPTIONS OR TRANSMISSION PROBLEMS, OCCASIONED BY ANY DEFECT IN THE SITE, THE CONTENT, AND/OR RELATED MATERIALS, THE INABILITY TO USE SERVICES PROVIDED HEREUNDER OR ANY OTHER CAUSE WHATSOEVER WITH RESPECT THERETO, REGARDLESS OF THEORY OF LIABILITY. THIS LIMITATION WILL APPLY EVEN IF THE COMPANY HAS BEEN ADVISED OR IS AWARE OF THE POSSIBILITY OF SUCH DAMAGES.
If your purchase includes calls with the Company, you are responsible for scheduling them. All bookings are non-refundable. If you have to cancel your call, please email george@financialgoodness.com with the subject “CALL CANCELLATION- [date & time of your call]” no less than 48 hours before your call. If you do not show up to your call or reschedule within 48 hours, you forfeit your call.
You agree to indemnify and hold the Company and each of its directors, officers employees, and agents, harmless from any and all liabilities, claims, damages and expenses, including reasonable attorney’s fees, arising out of or relating to (i) your breach of this Agreement, (ii) any violation by you of law or the rights of any third party, (iii) any materials, information, works and/or other content of whatever nature or media that you post or share on or through the Site, (iv) your use of the Site or any services that the Company may provide via the Site, and (v) your conduct in connection with the Site or the services or with other users of the Site or the services. The Company reserves the right to assume the exclusive defense of any claim for which we are entitled to indemnification under this Section. In such an event, you shall provide the Company with such cooperation as is reasonably requested by the Company.
The provisions of these Terms of Use are for the benefit of the Company, its subsidiaries, affiliates and its third-party content providers and licensors, and each shall have the right to assert and enforce such provisions directly or on its own behalf.
This agreement shall be governed by and construed in accordance with the laws of the State of Florida, without giving effect to any principles of conflicts of law. You further submit to the exclusive jurisdiction of the state and federal courts sitting in Miami-Dade County, Florida. If any provision of this agreement shall be unlawful, void, or for any reason unenforceable, then that provision shall be deemed severable from this agreement and shall not affect the validity and enforceability of any remaining provisions.
These Terms of Use may be revised from time to time by updating this posting. You are bound by any such revisions and should therefore periodically visit this page to review the current Terms.

This is a comparison of the advantages in Wyoming, Nevada, and Delaware for starting an LLC or corporation. Wyoming, Nevada, and Delaware are often considered among the best states to form a Limited Liability Company (LLC) or corporation due to several favorable factors. However, the best choice depends on your specific business needs and circumstances. Here’s why these states are popular:

Wyoming:

No State Income Tax: Wyoming does not have a state income tax, which can be beneficial for businesses.
Privacy: Wyoming offers strong privacy protections. It does not require the disclosure of members or managers in public filings, making it an attractive choice for those seeking anonymity.
Low Fees: Wyoming has relatively low formation and annual fees compared to other states.
Asset Protection: Wyoming has strong asset protection laws, including a favorable “charging order” protection, which makes it harder for creditors to seize LLC assets.

Nevada:

No State Income Tax: Like Wyoming, Nevada does not impose a state income tax on LLCs, which is attractive for businesses looking to minimize tax burdens.
Strong Privacy Protections: Nevada does not require the names of LLC members to be disclosed in public records, allowing for a higher degree of privacy.
Business-Friendly Laws: Nevada is known for its business-friendly environment, with laws that are favorable to business owners, including strong asset protection statutes.
No Information Sharing: Nevada does not share information with the IRS, which some businesses find beneficial.

Delaware:

Business-Friendly Legal System: Delaware has a well-established and highly regarded Court of Chancery, which specializes in business disputes. This court is known for its expertise and efficiency in handling corporate law issues.
Flexible Operating Agreement: Delaware offers flexibility in drafting the LLC’s operating agreement, allowing members to tailor the rules governing the LLC to their specific needs.
No State Income Tax on Out-of-State Income: Delaware does not tax income earned outside the state, which is beneficial for businesses operating in multiple states.
High Degree of Legal Precedent: Delaware has a large body of case law, providing businesses with greater predictability and security in legal matters.

Considerations:

Where You Operate: If your business operates primarily in another state, it might make more sense to form your LLC in that state. Forming in a different state (like Wyoming, Nevada, or Delaware) might lead to the need to register as a foreign LLC in your home state, which can add complexity and cost.
Costs: While these states have various advantages, consider the costs of forming and maintaining an LLC, including filing fees, annual fees, and the potential need to hire registered agents.

Summary:

Wyoming: Favored for low costs, strong privacy, and asset protection.
Nevada: Popular for tax advantages, privacy, and business-friendly laws.
Delaware: Preferred for its sophisticated legal system, flexibility, and strong legal precedent.

The decision on where to form an LLC should consider where you plan to conduct business, the specific benefits you seek, and the potential trade-offs in terms of costs and legal requirements.

Differences Between Corporation and Incorporation

The terms “corporation” and “incorporation” are related but refer to different aspects of forming and running a business. Here’s a breakdown of the differences:

Corporation:

Definition: A corporation is a legal entity that is separate and distinct from its owners (shareholders). It can enter into contracts, sue and be sued, own assets, and pay taxes.
Structure: Corporations typically have a more complex structure, with shareholders, a board of directors, and officers. The shareholders own the corporation, but the board of directors oversees its operations, and the officers manage day-to-day activities.
Types: There are different types of corporations, such as C corporations, S corporations, and non-profit corporations, each with varying tax implications and operational structures.
Purpose: A corporation is created to conduct business, make a profit, and limit the personal liability of its shareholders.
Lifespan: Corporations have a perpetual existence, meaning they continue to exist even if the ownership or management changes.

Incorporation:

Definition: Incorporation is the process of legally creating a corporation. It involves filing the necessary documents (such as articles of incorporation) with the appropriate government authority (usually the Secretary of State in the U.S.).
Process: The process includes choosing a corporate name, defining the corporation’s purpose, appointing initial directors, and issuing stock. Once these steps are completed, the corporation becomes a legal entity.
Legal Impact: Incorporation provides the business with a separate legal identity, which helps protect the personal assets of its owners from business liabilities.
Importance: Incorporation is a critical step for any business that wants to take advantage of the benefits of being a corporation, such as limited liability, potential tax advantages, and easier access to capital.

Summary:

Corporation: Refers to the actual business entity that is created through incorporation.
Incorporation: Refers to the process of forming that business entity.

LLC & Corporations

An LLC (Limited Liability Company) is not a corporation. Although both are business entities that provide limited liability protection to their owners, they differ significantly in structure, taxation, and regulatory requirements.

Key Differences:

Legal Structure:
- LLC: Combines elements of partnerships and corporations. It provides limited liability protection like a corporation but offers operational flexibility and pass-through taxation like a partnership.
- Corporation: A separate legal entity owned by shareholders. It is more rigid in terms of structure, with mandatory elements like a board of directors, corporate officers, and formal meeting requirements.
Ownership:
- LLC: Owned by members, who can be individuals, corporations, or other LLCs. The ownership structure is flexible and can be tailored to the members’ needs.
- Corporation: Owned by shareholders, who hold shares of stock in the company. Shareholder rights and responsibilities are defined by the corporation’s bylaws and are more standardized.
Taxation:
- LLC: Typically treated as a pass-through entity for tax purposes, meaning that the income and losses of the LLC are passed through to the members and reported on their personal tax returns. However, LLCs can choose to be taxed as a corporation.
- Corporation: Subject to corporate income tax, and any dividends paid to shareholders are also taxed, leading to potential double taxation. S corporations, a special type of corporation, can elect pass-through taxation.
Regulatory Requirements:
- LLC: Generally has fewer regulatory requirements, making it simpler to operate. LLCs are not required to hold annual meetings or keep extensive records, although these practices can be beneficial.
- Corporation: Must adhere to more formal requirements, including holding annual shareholder meetings, maintaining minutes of meetings, and following specific protocols for issuing stock.

In summary, while both LLCs and corporations provide limited liability protection, they are distinct in terms of their structure, taxation, and governance. The choice between forming an LLC or a corporation depends on the specific needs and goals of the business and its owners.

Conclusions

Wyoming, Nevada, and Delaware are often considered among the best states to form a Limited Liability Company (LLC) and/or a corporation. But for many people Wyoming wins when weighing the LLC, corporation and incorporation comparison of Wyoming, Nevada, and Delaware. I recommend Wyoming Agents as the Cheapest Way to Form a Wyoming LLC. Contact them and with their knowledge they will lead you through the process.

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Month: August 2024