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What if....... | Want to start a business but I need to become a corp.? |
So I guess I need a license. How and where to I go to get this licence and also what is the difference between: corperation. company enterprize ect? |
 |
 
PiggiePants
 |
I recommend you review the resources available at the Small Business Administration website http://www.sba.gov - they have a lot of information about what you need and how to get it. |
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jfmart65
|
It all depends on the type of business you want to start.
The easiest thing to get started is to register a fictitious name and open a bank account with that name so that you can start receiving checks on the company name.
Then you may consider registering a corporation. There are several types of corporations. C corporations, S corporations, LLC corporations.
When you talk to the accountant that will help you register the name (fictitious name is called) you can ask him about the tax differences about one type versus the other |
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hollygrimmett
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You do not have to be a corporation to start. It's much more common to have a business known as a sole proprietorship. It also involves much less paperwork. Just say poof! I'm in business and there you are. :) You might want to look into things like registering a business name and to find out if your city, county, and/or state require any special licenses (if you're running a business out of your home) But if you're doing mail order or selling homemade jewelry on a web page somewhere, you can probably sneak by for a year or two without doing that right away. |
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Brutus
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Become an LLC. It's cheaper and easier then registering a Corp. You also have a tax advantage because with a Corp., you are double taxed. |
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AWM
 |
The license and the business entity are two different things. When you're hearing about a license, it's usually a business license authorizing you to business in that area. You get that most places through the county office.
The business entity you choose is independent of the license. You classify your entity on the business license app.
The entity you choose depends on the type of business you operate, what tax things you have going on aside from the new business, what type of business assets you have, and what your priorities are. Like, do you intend to sell off the business someday, is it most imporatant to you to have the least amount of work, are you in a business that holds a lot of potential liability?
So you have to read up a bunch and talk to experts in tax strategies and asset protection to find out which entity is best for you. |
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