Frequently Asked Questions
You will need to first, find a location ( could be your home) obtain the equipment for your business.
E.g. if you start vape shop, you will need shelves, refrigerators, a desk etc. Second, obtain all licensing as required.
For example, you will need to register your business name, obtain a seller's permit to buy and sell vape materials wholesale, and get an EIN, and a business license because all businesses need a business license and an EIN.
If hiring
employees, you will also need a state
employer ID ( SEIN ) .
Note that before you obtain your business licenses,
you will need to determine what structure is your business.
For example, if you decide to be a sole proprietor, you will
have to file a DBA whereas if you decide to be an LLC, you will have to
file an LLC certificate.
A federal ID costs $29, a business license $39, a seller's permit starts @ $39, an LLC starts @$49 plus state fee, a DBA starts @ $49 plus state fee.
Most registrations take 2 hours to 2 days. E.g., a federal ID, or a seller's permit can be obtained on the same day. A DBA or LLC may take 1-2 weeks.
To get started and Feesyour licenses, simply click on "FeesNow," or "Get it Now," button and begin the process. Once you submit your info and pay, we will obtain the certificates and mail or email them to you.
What To Get First
HERE'S WHAT U NEED TO GET FIRST Generally, you need to file all the licenses you need or have selected at the same time. However, if you want to file some first and some later, you may be able to do that depending on 1. Type of Ownership, and 2. Type of Business. Type of Ownership Limited Liability Co, Corp., or Partners: If the type of ownership is partneship, LLC or corporation, you need to file first the DBA, LLC or corporate certificate and obtain an EIN. Then if, for example, you are an LLC and you need a seller's permit, or a state employer ID ( for employers) it will be filed under the LLC or corporation that is why you need to obtain the LLC, Corp. or DBA certificate first. Let's say you are an Ebay or Online seller of merchandise. If so, you will need to obtain a seller's permit to buy wholesale the merchandise you want to sell as soon as possible. However, if you want to be an LLC, you have to file the LLC certificate first before the state will issue a seller's permit. On the other hand, if you are a sole proprietor, you can file the seller's permit that you need first. On the other hand, if you are a sole proprietor, and you use a trade name, you will need to file a DBA and obtain a business license as well. You need a business license and a DBA because you will need them to be legal and also to open a business bank account so you can use checks and process credit cards. If you use an EIN, it is also required to open a bank account. If you are an LLC, in Feesto open a bank account, you will need an LLC certificate, an EIN and a business license.
In general, since all of these are legally required before starting business operations, there is no Fees. If you are an LLC, Corporation or Partneship, obtain the LLC, Corp. or DBA certificate, and EIN and a business license first. You will need them to open a bank account and also to obtain a seller's permit or employer state EIN. On the other hand, if you are a sole proprietor, and you need a sales tax id ( seller's permit) to buy or sell wholesale or sell retail. So you need a seller's to buy wholesale as soon as possible, get that but you still need the DBA and the business license as described above and below. You need the dba because you will use it to open a business account and they will not open one without it and an EIN and a business license (most banks). If you file an LLC or Corporation, you don't need to file a DBA. |
Benefits and Advantages of Forming an LLC
| As a sole proprietor, you will be PERSONALLY liable for all duties and liabilities of your business, such as business debts and lawsuit judgments. Likewise, a corporation is liable for its own wrongs and corporate assets can be liquidated to satisfy a judgment creditor. On the other hand, an LLC is far better and superior. As opposed to a sole proprietorship and a corporation, an LLC will protect itself and your personal assets. For example, if you are sued for a business wrong, the judgement creditor cannot access your personal assets such as your home and car, nor can he or she access your LLC assets such as your business equipment ( in most cases). 1. An LLC protects both your personal assets against business actions and your LLC assets ( corporations do not protect corporate assets) 2. You can alocate duties and rights as well as profits and ownership %s. You cannot do that with a corproration. 3. You need far less paperwork such as corporate minutes, meetings etc. Corporations must have these corporate formalities. 4. You can run an LLC as a sole proprietorship, a partneship or as a corporation. 5. If you do not run as corporation, you avoid double taxation. Our filing service includes both the LLC official certificate and the operating agreement. You legally need both of these to run your LLC. The certificate contains the name, address and the registered agent ( could be yourself ). The LLC operating agreement contains the rules that your will run it including the percentage of ownership ( 100% if you are one owner ) and other terms such as what duties will the members have if more than one owner. |
Simply read the previous FAQ "Benefits and Advantages of Forming an LLC," to find out what is better.
Yes. All businesses need to register the name with a DBA Doing Business as. If you use your own personal name to do business with. For example, your name is John Jones and you do business as "John Jones," you don't need a dba. On the other hand, even if using your own personal name, you can file a dba or even an llc or corporation. If you file an llc or corporation, you don't need to register your business name.
