Today I transferred ownership of Gender Punk 360 and Axis Evil to a corporation I hold majority stake in. Here’s why:
I founded Whole-Systems Enterprises, Inc., the corporation, late last year to provide legal structure for my efforts to elevate the lives of transgender people through business enterprise. Axis Evil and Gender Punk 360 operate as enterprises that support the same goal, so I thought it best to roll these brands under the same corporate umbrella.
Now that Axis Evil and Gender Punk 360 generate (a currently small) income, the work faces tax liability. The new tax law in the United States (which I don’t approve of) offers reduced tax rates for corporations compared with individuals, so I retain more of the income to roll back into scaling up these efforts. Moreover, corporations may write off expenses while individuals cannot.