Getting License

7

757motoring

New member
I have been purchasing all my equiptment and need to get on the ball with gettimg my license I figured that i want to get a LLC and know that I need to get registered with the IRS for name and to get a EIN# before I go back down to the city to get my license. Does this process take long and how much does it cost to get what I have to get done with the IRS I'm assuming no matter what state your in you need to do this.
 
757motoring said:
I have been purchasing all my equiptment and need to get on the ball with gettimg my license I figured that i want to get a LLC and know that I need to get registered with the IRS for name and to get a EIN# before I go back down to the city to get my license. Does this process take long and how much does it cost to get what I have to get done with the IRS I'm assuming no matter what state your in you need to do this.
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I just got my DBA and it didnt' take long at all and only cost me $16. Depends if there's a long line or not if it will take you longer........:D
 
Same here but it depends on the state. In Texas, all you need is a DBA, banks won't open you a business account without one.
 
I need to go back down to my commissiner's office I haven't been down there in a year when I wanted to find out my options for the type of license I would need. Now I'm getting confused on what steps I need to take in what order. I know I need to get the EIN# from the IRS but when I went on there website you can fill out the application online but I don't know if to do it as a sole proprietor or corporation If I plan on expanding my business down the line. The DBA do I get that from my city when I go to set up my actually license or do I have to get it from the state level. Hopefully I could get this straight this week so I can have this process behind me.
 
mirrorfinishman said:
The following information should help you get your business started in VA.

Virginia.gov - The Official Commonwealth of Virginia Home Page



If you decide to start out as a sole proprietor you can simply use your social security number as your IRS business tax ID number. Your business income would then be filed along with your yearly tax form.
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Thank you but if I do the LLC the way I understand I can't use my ss nunber I have to get that EIN# the reason I want to do the llc so none of my personal belongings can be taking in case anything happens with the business or the business gets sued for any reasons
 
757motoring said:
I want to do the llc so none of my personal belongings can be taking in case anything happens with the business or the business gets sued for any reasons
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That is smart planning. I don't know about VA, but in Texas is costs about $250 to file an LLC with the Secretary of State - more if you involve a lawyer, etc.



I would advise you to speak with your accountant (and possibly your lawyer) to make sure you fully understand and comply with local laws, regulations, etc.



DBAs are great if you need something quick and easy, but they offer no protection for your business or person.
 
ZaneO said:
That is smart planning. I don't know about VA, but in Texas is costs about $250 to file an LLC with the Secretary of State - more if you involve a lawyer, etc.



I would advise you to speak with your accountant (and possibly your lawyer) to make sure you fully understand and comply with local laws, regulations, etc.



DBAs are great if you need something quick and easy, but they offer no protection for your business or person.
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Generally what do you feel is the best license to get?
 
Charisma said:
Generally what do you feel is the best license to get?
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*Very* generally speaking, Limited Liability Corporation (LLC), but every situation, state, etc. might call for something different. That's why it's always best to speak with an accountant and lawyer for your specific application.
 
Well hey, would ya look at that! So far I've apparently been making some fairly good decisions about how to run my business.



Thankfully, my mom and sister are/work for lawyers.
 
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