Minority Ownership/Partnership????

[GLASSTIME]

I am very curious about this. I have often thought of this and have several companies ask me if my company is "Minority" owned. Of course currently we are not, however I haven't totally ruled this idea out. In fact if I were to bring on any partner it would be my wife!

The business' that have asked me this have all said "If you become minority owned let us know because we get special privlages"???? I'm thinking they maybe get a tax break! Not sure! I have visited the .GOV website for the country and for the state and haven't found anything relative to what I need. Supposedly there is a form that comes from the state that you have to show people who ask for it.

Still no luck in finding this form thus far. I think I will step into my CPA' office and chat with him. I'm sure he will have some answers or resources.
Just curious if any of you have ran into this and if so what steps have you taken to become minority owned, where do you aquire this such "Form? and do you guys and gals have companies asking you if you are minority owned?


Thanks' in advance!

[just chippen away]

For years I have been checking with my accountant on a Handicap ownership / credit and for 19 yrs nothing... I can hire the handicap and take a tax credit for hiring the handicap, but I being handicapped for 27yrs can not get ****.... But, if I were a female or of any other race, I can receive a credit...Sorry, I can not change my parts or my color.

Even Safelite sent a letter out on this.... So this is how we get more business? I am LLC, with my wife as partner, but she would have to own 51% to gain the female ownership gain for business.... Sorry, she will not own that much of my business as I had it way before we met and she does not work it at all..

Sorry for the slite OT drifting.

[candyman]

Dont do like one of my wifes clients did. He transfered his business to his wife. 10 years later she divorced him and took the business and ran off with an employee. My wife and I each own a business and both are SP. She gets government offeres all the time. I get no offers, and Iam a DAV and retired from the military. Anything I 've applied for always seem to have strings attached. BY the way. If the spouse has 51% of control, be prepared to be told when, where, and what you will do if they ever get upset with you. I had a friend last year loose a multi-million dollar leasing company, because his wife (51% plus) decided she would be in-charge and drove the business into bankrupcy. She thought he was having an affair after 25 years of marriage and her lawyers told him what his job was. Now they are broke and filling for divorce due to poor judgement and lack of communication. He didn't see that coming, when he was looking for a profit on government leasing contracts.

[puka pau]

Because of equal rights legislation goverments on all levels are often mandated to include in their bid documents for outside contracts a specified percentage of MBE (minority business enterprise) vendor participants. In broad terms this means that in order to qualify for consideration for a government contract, a prime contractor (if not an MBE) must include a certain percentage of MBE subcontractors in the bid. If you are asked if you are a MBE the account in question may either have or is vying for some government work and would include your company as part of their MBE mandate. Obviously, you would not be participating directly in the contract unless there was a specific component of the contract that included windshield repair. In fact, by including you in the process the contractor might very well be 'gaming' the system to increase the chance of securing the contract. However, even though this practice could be construed as at best borderline ethical and at worst borderline fradulent, you as a subcontractor would probably not incur any direct liability. Ask your legal counsel just to make sure.

Cheers;

Puka Pau

[GlassStarz]

And I suppose next you will want to know how to get around the rules and get a Handicap Plate so you can park closer to the store come on dude get a grip
Programs designed to help a specific group level the playing field dont rally affect us and trying to cheat your way into the game is pretty slimey IMHO

[just chippen away]

And I suppose next you will want to know how to get around the rules and get a Handicap Plate so you can park closer to the store come on dude get a grip Programs designed to help a specific group level the playing field dont rally affect us and trying to cheat your way into the game is pretty slimey IMHO

I have a cripple permit. Do you have a problem with that? If so you had better get a major grip on your self!

[GlassStarz]

If you qualify for one thats what they are for. Even the simplest of mind would understand my post to be those who dont qualify and lie to get one is pretty low life the ones who do qualify and get one well thats what they exist for. once again Get a grip

[Dave M]

I must not have a simple mind because even after reading your post 3 times, It still seems like you were talking directly to Just Chippen Away!

[just chippen away]

So now I am simple... I should get another permit for that one...
Hold on while I get you a shovel so you can dig your hole deeper, Back peddling is getting you know were.

[Brent Deines]

OK guys, this is pointless. Back on topic please.