If you are going to collect sales tax, you will need to file some
paperwork with the state. I believe you will need an Illinois
reseller ID. Note once you have one, they will hound you for the
quarterly paperwork, and don’t ever be late. The penalty for
being late sending them $0.23 in sales tax will be something like
$50. Ask me how I know. I finally refused to resell hardware
and cancelled my reseller ID to make it stop.
So the point was sole proprietor is easy (if risky to your
personal assets), probably just file a form with the county clerk
and open a separate bank account under your DBA, but there will
be additional paperwork if you collect taxes or have employees.
As Doug pointed out, you really should have a lawyer and
accountant. You don’t know what you don’t know. They can advise
you if you are making the wrong choice about sole proprietorship,
partnership, LLC, PC, S Corp, C Corp, etc. for various reasons
including putting your personal assets at risk, tax consequences,
and whether your business can have a subsidiary.
There are probably some advantages to a sole proprietorship, like
as long as it’s just you, I think you can ignore OSHA. Woo hoo,
look at me, I’m 7 feet off the ground without fall protection!
*From:* That One Guy /sarcasm <mailto:[email protected]>
*Sent:* Thursday, August 06, 2015 11:12 AM
*To:* [email protected] <mailto:[email protected]>
*Subject:* Re: [AFMUG] Legalzoom
for a small, on the side business sole proprietorship would seem
sufficient.
Whats this you say about sales tax, a sole proprietor cant take
in sales tax?
On Thu, Aug 6, 2015 at 10:51 AM, Bill Prince <[email protected]
<mailto:[email protected]>> wrote:
This stuff is not rocket science. It might be difficult for a
lawyer, but it's a fairly rote process. I've done it a couple
of times, and yes, you need to issue stock (if a corp),
publish minutes, and a couple of other things. In CA, the SOS
office has a little checklist of what you need. It takes
maybe an hour or two to pull it all together.
bp
<part15sbs{at}gmail{dot}com>
On 8/6/2015 6:45 AM, Hass, Douglas A. wrote:
-1000
If you just need to file corporate formation papers and
nothing else, you can probably do it by downloading the free
forms your state provides. Registering a DBA name is easy,
too. Usually just a form that doesn’t take a degree to
figure out how to complete. Having an attorney is helpful,
but by no means necessary. /On the other hand, LegalZoom is
a complete waste of money./ You don’t need to pay LegalZoom
unless you like snazzy web interfaces/hate PDFs so much that
you are willing to pay money to use/avoid one.
HOWEVER FILING THE FORMS ISN’T ALL YOU NEED TO DO!
If all you do is pay the filing fees and file the forms, you
haven’t done what you need to create a corporation that
protects you and your personal assets (or other corporate
assets), and you may not have done enough to actually
transact business in the state or location where you are
located. You have to follow a number of other corporate
formalities, too (corporate books, minutes, resolutions,
state registrations/licenses, local registrations/licenses,
etc.) or you will have just wasted your time and money. As
Ken pointed out, most states have annual filing
requirements, too.
Retaining a lawyer that specializes in this area, as well as
a good small business accountant, is a must. Otherwise,
you’re risking your business right from the start.
Doug
*From:*Af [mailto:[email protected]] *On Behalf Of *Bill
Prince
*Sent:* Thursday, August 06, 2015 8:25 AM
*To:* [email protected] <mailto:[email protected]>
*Subject:* Re: [AFMUG] Legalzoom
+1.
You can do an LLC or an S corp for just the filing fee ($25
in CA). The process is fairly simple; even I can do it.
Doing a DBA is also pretty simple, and only costs $10 or $20
to publish.
bp
<part15sbs{at}gmail{dot}com>
On 8/6/2015 6:15 AM, Joshaven Mailing Lists wrote:
You probably don’t need a lawyer to file the LLC. I’ve
seen companies that use one where the lawyer is payed to
fill out a form that is easier to fill out then a
1099ez. Look into getting a LLC form form the state
first… you probably want a lawyer to draw up your
articles of organization though.
Sincerely,
Joshaven Potter
MTCNA, MTCRE, MTCWE, MTCTCE, UACA
Google Hangouts: [email protected]
<mailto:[email protected]>
Cell & SMS: 1-517-607-9370 <tel:1-517-607-9370>
[email protected] <mailto:[email protected]>
On Aug 6, 2015, at 9:10 AM, Ken Hohhof
<[email protected] <mailto:[email protected]>> wrote:
Find a local lawyer who specializes in small
business, you can set up an LLC or S Corp and do the
annual filings with the state for a couple hundred
dollars a year and you will have someone to consult
when related stuff comes up. I use these guys
(gals, actually), I’m sure there is something
similar near you.
http://www.cartertani.com/
*From:*That One Guy /sarcasm
<mailto:[email protected]>
*Sent:*Wednesday, August 05, 2015 11:10 PM
*To:*[email protected] <mailto:[email protected]>
*Subject:*[AFMUG] Legalzoom
Is this outfit worth dealing with for stuff like a
dba for a small business that will probably generate
22 bucks and a bad taste in the mouth.
I assume everybody here did this among other things
once upon a lonesome. It's like 99 to 150 bucks plus
the filing fees.
Is a dba something you can muck up on your own?
*Douglas A. Hass*
Associate
312.786.6502 <tel:312.786.6502>
[email protected] <mailto:[email protected]>
*Franczek Radelet P.C.*
300 South Wacker Drive
Suite 3400
Chicago, IL 60606
312.986.0300 <tel:312.986.0300> - Main
312.986.9192 <tel:312.986.9192> - Fax
www.franczek.com <http://www.franczek.com>
www.wagehourinsights.com <http://www.wagehourinsights.com>
Connect with me:
linkedin <http://linkedin.com/in/douglashass>
twitter <https://twitter.com/WageHourInsight>
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Internal Revenue Service, we inform you that, unless
specifically stated otherwise, any federal tax advice
contained in this communication (including any attachments)
is not intended or written to be used, and cannot be used,
for the purposes of (i) avoiding penalties under the
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