Destiny Central |
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Forming a
Business Trust or UBO Long ago, in a
country far, far away, before the USSA added the extra S quite so nicely, my
favorite form of business organization was the Business Trust. A statutory
business trust, or, as it is more commonly known, the Massachusetts Business
Trust, is an old form of organization dating back hundreds of years, and has
its origins in England long ago and in the common law. Please see the previous file on trusts and
other matters for a fuller explanation of these things. Anyway, a STATUTORY
business trust, depending on your state, is an entity treated by the state
just like a corporation, with a few little twists. But, it can, again, depending on the state,
have certain advantages over a regular corporation, such as being exempt from
a minimum franchise tax, being able to be formed by a single trustee, instead
of whatever the legal number of incorporators in your state, etc. The reason
corporations were created is because a corporation is an artificial entity totally
created by the state. As such, there
is more REVENUE that can come to the state from the corporation as opposed to
the trust, and in addition the state has more control over the regular
corporation. The most common
places you see business trusts today are in mutual fund companies. Each fund in a mutual fund company’s
offerings is generally incorporated as a business trust or a unit trust, and
operates according to the laws and regulations governing statutory business
trusts. I imagine the mutual fund
people use this form of organization because it is simpler and easier to use
than a corporation, or maybe it is just something customary to that industry,
I don’t know for sure, but it is the most common occurrence of this form
today. Then, there is a
totally DIFFERENT kind of animal, which some have called the UBO, which is
really a NON statutory, or common law, or SOVEREIGN business trust. The IRS tries to
make the claim that this form of organization is a tax scam. Nothing could be further from the truth,
and it is a bald faced lie just like most of the other things this execrable
agency says and does. However, unless you
know EXACTLY what you are doing and can defend yourself well in court, you
had better stay away from this, because if you do or say anything the least
bit WRONG, they are going to hang you.
And, as the country slides down the slippery slope to total
Nazification, even the truth won’t matter anymore. We are almost there now, to where the
government simply says “we don’t care what the law says anymore -- just do what we say or else.” The corruption
level in the court systems today means that getting a fair hearing from an
honest judge is a fantasy, even though, like lightning, it still strikes occasionally. There is one
difference between the statutory trust and the sovereign trust, just like
there is a difference between a statutory citizen and a sovereign citizen,
but the legal consequences are tremendous. To put it simply, a
sovereign trust has the same rights as a sovereign citizen, which means that
statutory law does not apply to it.
That includes almost ALL the garbage promulgated by the government
since the time of the Civil War, if you want to know how all inclusive it is. We do NOT recommend
that anyone create or use this form of organization anymore, because it IS a
red flag to the Nazis. It’s sort of
like “well, you’re right, but SO WHAT?”
But, if you MUST do
it, we know the proper forms to use for both the statutory and non statutory
business trust indentures. So, if you
want to give it a whirl after all of these warnings, we can help you with
this. If you want to go
ahead, email us at porongo@safe-mail.net
and we can enter a discussion on this and give you a reasonable price. Enjoy! |
