Vermont OKs the Creation of Virtual Corporations

Ah Vermont, that lovely New England state known for its maple syrup, Ben & Jerry’s ice cream…and now, limited liability corporations that only exist online. [digg=http://digg.com/business_finance/Vermont_OKs_the_Creation_of_Virtual_Corporations_GigaOM]

On June 6th, Gov. Jim Douglas signed an inauspicious-sounding bill entitled “H.0888, Miscellaneous Tax Documents” that could revolutionize the way startup companies are formed and run. As New York Law School professor David Johnson explained to me, up until now, U.S. law required LLCs to have physical headquarters, in-person board meetings and other regulations that have little relevance in the digital age. Read More about Vermont OKs the Creation of Virtual Corporations