We filed a corporation in Wyoming at august. Our intention is that company founders would receive Common Shares however would not pay or pay almost nothing for the shares. Soon investors would come and invest in the company by buying the shares at a high price. I have a few questions:
1) Company does not have any revenue yet. Do we have to file urgently empty tax returns?
2) Do we have to change par value from high value to a very low value and notify the Secretary of State? As company founders we don't want to pay for the shares. What are the tax implications if investors buy shares for a high price and par value is very low?
3) Is it possible to use TurboTax for the above questions? I called the generic number 1-800-4-INTUIT (1-800-446-8848) however I was only able to talk with a robot and it didn't help much...
