March 10, 2010

We’re in business!

We got all the paperwork done and filed in March 2010 to begin operating in Mexico from a legal standpoint.  The first step was to register our corporate name with the government of Mexico in Hermosillo, the state capital city of Sonora.  In December 2009 we registered the name “Productos Carnicos La Mision TP”, which translates to “The Mission Meat Products”.   This is not our product brand name but simply our corporation name.
Next we had to hire a Notary to put together a corporate charter.  This was also done in Hermosillo.  Here it is!
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Then we had to register with SAT (the IRS of Mexico) in Nogales, Sonora in order to get a tax I.D. number.  You need a tax I.D. to be able to obtain legal receipts when making purchases.  Whenever you make a business purchase in Mexico, you have to get an official receipt called a “factura” or otherwise you cannot deduct the expense on your taxes.  If you don’t get facturas, you may end up paying income taxes even through you had no net income.  Here are Enrique and Duane at the SAT office in Nogales with the new tax I.D. number:
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Lastly, we had to make another trip to Nogales to register with the Secretary of Economy.  So after a lot of help from Enrique, a bunch of paperwork, two trips to Hermosillo and two trips to Nogales, Productos Carnicos La Mision TP is finally a legal Mexican entity.

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