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  1. #1

    starting a business questions everybody should ask...

    I haven't seen this post anywhere, not even on the search but I was thinking someone may as well ask....

    when you start a reselling compnay, do you have to go somewhere to tell the government about it? Do you have to pay something for starting a business?

    Plus I'm curious on this issue .

  2. #2
    Join Date
    May 2002
    Posts
    431
    In the US at least any time you make income you are required to report it, regardless of how you got that money. Technically if you get $20 for your birthday you are supposed to report it for taxes.

    Depending on your location and type of business, you may need any of the following:
    a. Business License
    b. D/B/A (Doing Business As)
    c. Federal Employer Identification Number
    d. Countless other things for a corporation or llc.

    Ideally you should contact an accountant and lawyer when starting a business or at least read a lot about it so you have a decent amount of knowledge.
    Jordan Bouvier

  3. #3
    Join Date
    Dec 2001
    Location
    Houston, Texas
    Posts
    549

    Re: starting a business questions everybody should ask...

    when you start a reselling compnay, do you have to go somewhere to tell the government about it?
    Unless you want to be audited by the IRS, you need to file for taxes. You'll also need to acquire at the very least an Assumed Name (commonly called a DBA - Doing Business As) unless you plan to use your real name as your company name. Incorporating (LLC,Corp.) requires you to file with the state.
    Do you have to pay something for starting a business?
    Most likely. Assumed Names cost a few bucks and registering as an LLC or Corp. generally costs 100-300 dollars, depending on your state.

    This is of course assuming you're starting a business in the United States. There might be other costs involved (i.e. state sales tax) in which case ALWAYS check with a qualified state official and/or consult with a CPA/Lawyer.

  4. #4
    Join Date
    Oct 2002
    Location
    Hershey, PA
    Posts
    287
    you have to pay taxes to the federal, state and local govt. though, so be sure you check with everybody and make sure you have all the required stuff
    IQ Studio
    www.IQStudio.net
    [email protected]
    Create.Design.Innovate

  5. #5
    Join Date
    Jul 2002
    Posts
    3,729
    If you manage to make less than a certain amount of money for the year (I believe it's $2,000) you are not required to pay anything.

    Of course if you do that, you're business is doing pretty piss poor...lol

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