Tritz 1 Posted November 30, 2006 Share Posted November 30, 2006 Hey everybody,This is a question for those of you who may have ever started/owned a business.I am wondering what needs to be done to get a business licensed legally. Including the getting the Federal Tax ID and all the good stuff.Thanks again for your serious answers, with that being said... flame on. Link to post Share on other sites
addagirl 0 Posted November 30, 2006 Share Posted November 30, 2006 I own a biz but I'm affraid I only know about what is needed here (Toronto). Maybe it's the same there? I just had my lawyer do the incorporation for me. Once he did it and I had my biz number, I called the government agencies to find out about registering for the appropriate federal tax number I needed. Link to post Share on other sites
Tritz 1 Posted November 30, 2006 Author Share Posted November 30, 2006 Thanks that helps.I'll get a lawyer. Link to post Share on other sites
NoSup4U 0 Posted November 30, 2006 Share Posted November 30, 2006 This is the gov't starting site for small business info:http://www.irs.gov/businesses/small/index.htmlOn it there is a link to getting your EIN (federal tax ID number). You also will have to apply with your state after you do that. It doesn't take but a few forms to set up an LLC.Mark Link to post Share on other sites
Cupsogue Bum 0 Posted November 30, 2006 Share Posted November 30, 2006 A good lawyer and an a "crafty" accountant are always needed when starting a new business... too bad my accountant is to straight laced, damn taxes get you all the time Link to post Share on other sites
Wandigo 1 Posted November 30, 2006 Share Posted November 30, 2006 http://www.businessnameusa.com/info.htm hope it helps. Link to post Share on other sites
Tritz 1 Posted November 30, 2006 Author Share Posted November 30, 2006 thanks guys.. helps a lot. Link to post Share on other sites
Flushgarden 0 Posted November 30, 2006 Share Posted November 30, 2006 Starting your own business is like shoving a bowling pin up your own ***.You're in for what seems like an eternity of extreme pain and agony while trying to achieve success, and most likely you'll give up and pull it out before you get it all the way up in there. But even after you pull it out, your *** still hurts for about a year.I've done it.The business...not the bowling pin.I used the people at this lawfirm - http://www.amerilawyer.com/ - to set up my corporate papers. They're cheap...and not too bad for the price. Link to post Share on other sites
fatman 1 Posted November 30, 2006 Share Posted November 30, 2006 What's the business idea? Link to post Share on other sites
HelioCentric 0 Posted November 30, 2006 Share Posted November 30, 2006 Most accountants can get you set up with your FEIN and your appropriate state docs for incorporating. A lawyer certainly doesn't hurt though, as you want to be sure to incorporate appropriately for both tax and liability reasons. All dependent on your particular biz. I had a restaurant and set it up via an S-corp. Biz taxes flow through your personal tax filings, which has very distinct advantage and disadvantages. Link to post Share on other sites
Tritz 1 Posted November 30, 2006 Author Share Posted November 30, 2006 The business is a charter company. I have recently acquired a Piper Navajo Chieftain and I just have to get all my **** set up. Link to post Share on other sites
TB17 0 Posted November 30, 2006 Share Posted November 30, 2006 I was definately NOT expecting serious responses... Link to post Share on other sites
stevedar 0 Posted November 30, 2006 Share Posted November 30, 2006 you might need to hop through a bunch of FAA hoops too then...then again a business lawyer would know best Link to post Share on other sites
Royal_Tour 0 Posted November 30, 2006 Share Posted November 30, 2006 The business is a charter company. I have recently aquired a Piper Navajo Chieftain and I just have to get all my **** set up.ya my guess is you're gonna need to talk with lawyers for sure, especially since there will be insurance issues with peoples LIVES Link to post Share on other sites
eYank 0 Posted November 30, 2006 Share Posted November 30, 2006 ya my guess is you're gonna need to talk with lawyers for sure, especially since there will be insurance issues with peoples LIVESyeah you defintley would need a lawyer for thisand it may take you years to pay for the start up costs, but im sure you know all thatGood luck Link to post Share on other sites
rwood 0 Posted November 30, 2006 Share Posted November 30, 2006 what is that? he's acquired an indian chief? Link to post Share on other sites
nutzbuster 7 Posted November 30, 2006 Share Posted November 30, 2006 Talk to your lawyer or just see an accountant. They can help .Also look into an 'S' corp. option. sorta the same thing. An accountatnt can help you decide which is best. Link to post Share on other sites
psujohn 0 Posted November 30, 2006 Share Posted November 30, 2006 Basically what everyone said about talking to a lawyer/accountant is a good idea. How you want to setup a business and what you need to do vary depending on your location and the business. You'll also want to look into your state's "state department". That's the branch of your state government that normally handles things like creating the business entity and licensing. Link to post Share on other sites
Tritz 1 Posted November 30, 2006 Author Share Posted November 30, 2006 Thanks for your help everyone. I'm going to go talk to an accountant soon.Yes I realize the FAA is going to be the real trouble here, but I've been dealing with them for years now. Link to post Share on other sites
Royal_Tour 0 Posted November 30, 2006 Share Posted November 30, 2006 what is that? he's acquired an indian chief?its a airplane you fool Link to post Share on other sites
Tritz 1 Posted November 30, 2006 Author Share Posted November 30, 2006 A sexy airplane. Link to post Share on other sites
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