BFL creates new charity project to donate 1000 BTC to [ROFL!]

[Syke]

Is Butterfly Labs registered as a business entity? And in what state? Didn't come up in a Kansas search.

https://wyobiz.wy.gov/Business/FilingDetails.aspx?eFNum=149144214231010201167112190255028042109060235081

[Xian01]

Is Butterfly Labs registered as a business entity? And in what state? Didn't come up in a Kansas search.

https://bitcointalk.org/index.php?topic=48863.msg619440#msg619440

"Corporate registry - The company is a 'C' corp registered in the state of Wyoming as BF Labs Inc.  Why Wyoming when you're not based there?  Mostly due to it's favorable tax and legal climate.  Operating in the same state of incorporation exposes the company to additional tax liabilities.  You might also find it interesting to know that the majority of US domiciled fortune 500 companies are either Delaware or Wyoming corporations for these same reasons.  Intel is a good example."

[PuertoLibre]

Is Butterfly Labs registered as a business entity? And in what state? Didn't come up in a Kansas search.

https://bitcointalk.org/index.php?topic=48863.msg619440#msg619440

"Corporate registry - The company is a 'C' corp registered in the state of Wyoming as BF Labs Inc.  Why Wyoming when you're not based there?  Mostly due to it's favorable tax and legal climate.  Operating in the same state of incorporation exposes the company to additional tax liabilities.  You might also find it interesting to know that the majority of US domiciled fortune 500 companies are either Delaware or Wyoming corporations for these same reasons.  Intel is a good example."

Hmm, learn something new everyday.

[Phinnaeus Gage]

Is Butterfly Labs registered as a business entity? And in what state? Didn't come up in a Kansas search.

https://wyobiz.wy.gov/Business/FilingDetails.aspx?eFNum=149144214231010201167112190255028042109060235081

https://www.kansas.gov/bess/flow/main?execution=e1s5
https://www.kssos.org/filed_doc_viewer/view_entity.aspx?id=09262012465169112&submit=View+History+and+Documents

https://www.sos.mo.gov/BusinessEntity/soskb/Corp.asp?3402461

What the fuck does this mean?

5/22/2013   Admin Dissolution

[Phinnaeus Gage]

Nevermind! I found it!

Involuntary cessation of the existence of a corporation by a government authority. It is prompted usually by the corporation's failure to comply with certain statutory requirements such as to file an annual return or pay its taxes.

I thought it was something important.

Carry on!

[bcpokey]

How many states did they register in? Also, I'm late, but, wtf @ OP.

[PuertoLibre]

Is Butterfly Labs registered as a business entity? And in what state? Didn't come up in a Kansas search.

https://wyobiz.wy.gov/Business/FilingDetails.aspx?eFNum=149144214231010201167112190255028042109060235081

https://www.kansas.gov/bess/flow/main?execution=e1s5
https://www.kssos.org/filed_doc_viewer/view_entity.aspx?id=09262012465169112&submit=View+History+and+Documents

https://www.sos.mo.gov/BusinessEntity/soskb/Corp.asp?3402461

What the fuck does this mean?

5/22/2013   Admin Dissolution

Administrative dissolution means the corporation was “administratively dissolved” by the Secretary of State in accordance with State law.Sometimes the corporation is not aware this has occurred. In most instances, a corporation is administratively dissolved because it failed to file its annual registration with the Secretary of State.This often occurs because the corporation is “out of business.”  However, it is also very common that the corporation moved its offices, the Secretary of State was not notified of the change, and the corporation’s annual registration form was not forwarded to the new address.Many times the annual registration is not filed simply due to an oversight.

Administrative dissolution of a corporation by the Secretary of State may occur for the following reasons:

Failure to file an annual report
Failure to pay franchise taxes
Failure to maintain a registered agent
Fraud upon the state.

However, as with a voluntary dissolution, administrative dissolution does not mean the corporation has ceased its existence. Administrative dissolution does not terminate the authority of the corporation's registered agent.

 

Before an administrative dissolution occurs, the Secretary of State must provide written notice by mail that the corporation is to be dissolved. The corporation then has xxx days in which to correct or explain the situation. If it does not, the corporation may be administratively dissolved.

If your entity has been administratively dissolved or your entity's certificate has been cancelled or rescinded, you may request a reinstatement packet.

A corporation or limited liability company may be Administratively Dissolved if the entity in question falls into delinquent status for failure to file its required annual report and fails to correct that status within a certain time,after appropriate notification attempts by the Department. Administrative Dissolution is the termination of existence of the entity by this department.

Source: http://www.infotaxsquare.com/view_article.php?id=218

[PuertoLibre]

As a renown BFL shill...I must cover the tracks in the sand and say...they probably forgot to file?

If there are no legal issues with the state they registered, then there is really nothing to worry about.



PG you SOB...why are you always looking in places you shouldn't be!? Darn you and your Googling!

(MASTER BFL Shill)

[wrenchmonkey]

That's for the state of Missouri. They're in KS, with their primary corporation being incorporated in Wyoming. Missouri appears to be completely irrelevant to their current business structure. Most likely, they started the registration process in Mo., then decided to bin it, and just let the thing resolve itself. Assuming, of course, it's actually even the same BF Labs. Their website doesn't seem to be working to be able to view the filings...

But at any rate, don't let a rational explanation get in the way of your FUD fest... 

[KS]

That's for the state of Missouri. They're in KS, with their primary corporation being incorporated in Wyoming. Missouri appears to be completely irrelevant to their current business structure. Most likely, they started the registration process in Mo., then decided to bin it, and just let the thing resolve itself. Assuming, of course, it's actually even the same BF Labs. Their website doesn't seem to be working to be able to view the filings...

But at any rate, don't let a rational explanation get in the way of your FUD fest... 

There is no penalty associated with "admin dissolution"?

[Beepbop]

My quick guess would be that one would have to pay additional filing fees for registrations that were allowed to lapse. Of course, if wrenchmonkey was serious about his "fuck the law" stance, BFL should just fail to register and not pay any taxes either.

BFL creating their own charity, donating to themselves, then paying their contractors with it. Quite the song and dance routine.

Who can really say they were surprised by this? Or surprised that some people would try to defend this behavior? Yet another broken promise from BFL, and they'll get away with this one too since nobody bothers to hold them to their promises.

[chiropteran]

The agreement was to "donate to charity,"

And that was done.  Thanks.

[bitcoiner49er]

http://www.kcmo.org/CKCMO/index.htm

Business occupational/cigarette/utilities license
A tax imposed for the privilege of doing business within the City of Kansas City, Mo. This tax is required of all businesses within the city and all businesses outside the city providing services within the city. Be sure to fill out the correct form. If you have questions; please call 816-513-1135.

https://en.wikipedia.org/wiki/Kansas_City,_Missouri

Why no one knows that 1/2 of KC is in Missouri?!

[FloridaBear]

The agreement was to "donate to charity,"

And that was done.  Thanks.

Nope. It's 29% done. The other 700 BTC are still in BFL's coffers.

[smoothie]

The agreement was to "donate to charity,"

And that was done.  Thanks.

Nope. It's 29% done. The other 700 BTC are still in BFL's coffers.

lol they are probably mining the rest with pre-order customer hardware.

I mean how else are they getting the money to pay it?

They haven't really sold anything yet. They just took preorders for 1 year. lol

Essentially the customers of BFL are paying for this stupid charity bet.

[wrenchmonkey]

That's for the state of Missouri. They're in KS, with their primary corporation being incorporated in Wyoming. Missouri appears to be completely irrelevant to their current business structure. Most likely, they started the registration process in Mo., then decided to bin it, and just let the thing resolve itself. Assuming, of course, it's actually even the same BF Labs. Their website doesn't seem to be working to be able to view the filings...

But at any rate, don't let a rational explanation get in the way of your FUD fest... 

There is no penalty associated with "admin dissolution"?

What penalty? People voluntarily let businesses lapse all the time, that's why the dissolution process is in place. It essentially is a passive system to dissolve no longer functioning/needed business entities. If you don't manually renew it, it will automatically be dissolved after a certain amount of time. In what sense would it be reasonable for a state to penalize you for simply letting the thing lapse. Do you get penalized if you stop renewing your driver license, if you no longer live in that state? No, but if you want to renew it, you'll have to re-file some paperwork, and repay some fees, there's usually some sort of grace period that allows you to reinstate an expired license without having to re-file everything.

Business licensing works the same way. In some states, that grace period is up to 3 years. If you go back within 3 years and pay the normal annual fees, plus a nominal service charge (usually $10-$50) you can renew a lapsed business entity and immediately resume business operations within that state, often, this can be done on the state website.

Having formed, dissolved, restructured, bought, and sold several businesses, I can assure that it's really WAAAAY less of a big deal that a lot of people assume.

[k9quaint]

That's for the state of Missouri. They're in KS, with their primary corporation being incorporated in Wyoming. Missouri appears to be completely irrelevant to their current business structure. Most likely, they started the registration process in Mo., then decided to bin it, and just let the thing resolve itself. Assuming, of course, it's actually even the same BF Labs. Their website doesn't seem to be working to be able to view the filings...

But at any rate, don't let a rational explanation get in the way of your FUD fest... 

There is no penalty associated with "admin dissolution"?

What penalty? People voluntarily let businesses lapse all the time, that's why the dissolution process is in place. It essentially is a passive system to dissolve no longer functioning/needed business entities.

Good to know that even BFL shills believe that BFL is a no longer functioning business. 

[wrenchmonkey]

That's for the state of Missouri. They're in KS, with their primary corporation being incorporated in Wyoming. Missouri appears to be completely irrelevant to their current business structure. Most likely, they started the registration process in Mo., then decided to bin it, and just let the thing resolve itself. Assuming, of course, it's actually even the same BF Labs. Their website doesn't seem to be working to be able to view the filings...

But at any rate, don't let a rational explanation get in the way of your FUD fest... 

There is no penalty associated with "admin dissolution"?

What penalty? People voluntarily let businesses lapse all the time, that's why the dissolution process is in place. It essentially is a passive system to dissolve no longer functioning/needed business entities.

Good to know that even BFL shills believe that BFL is a no longer functioning business. 

And totally unsurprising that the trolls fail at reading comprehension, yet again...

[Quix]

It's only a donation if it goes to a legal charity.

That is all.

[wrenchmonkey]

It's only a donation if it goes to a legal charity.

That is all.

Says who?