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| Starting a Business Creating and operating a new business. |
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#1 |
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Junior Member
Last Online:
Oct 24th, 2007 12:41 PM Join Date: Nov 2006
Location: Havertown, PA just outside Philly
Posts: 3
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I am on disability and welfare and the PA laws are written so there is no way out. Medicare Disability allows for gradual re-entry into the work place, but the monthly cost of medicines prevents a one-step jump from Welfare to working. I wanted to set up a C Corp in PA or DE and earn no money, so I would not be violating the income restrictions of Welfare. I would turn the shares over to someone until I left Welfare, so i would not be holding any assets (which would probably violate Welfare rules). I would be doing this to slowly build up a business so I can eventually get off welfare and disability. I, in no way, am intending to scam welfare. I would be willing to put aside a certain % to be given to welfare anonymously after I am off welfare. I want to know if this is legal or if there is a legal way to do it. This is a very straight-forward request with absolutely no intent to cheat or scam anyone. The corporation would pay taxes and collect sales taxes. I would be VERY grateful if anyone can help me out. I do not want to do anything illegal, but my family can not live on the amount that welfare provides. I need help. Thank you.
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#2 |
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Posts: n/a
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That normally does not work if you still effectively control the shares. But you could possibly set it up so that you contract to buy back the shares at x price if the company becomes successful and makes a certain amount of money per month, week etc. In the meantime you would just help to get it going, etc
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