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  1. #1
    Newbie
    Join Date
    December 12th, 2015
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    2
    do i need new business license and tax id if i am purchasing a business?
    so short story is, I am in middle of negotiations with an business owner and my question is, do i need to purchase a new business license and a new tax id ?
    or he can just transfer the ownership rights to me?

    and the second question, will i be reliable for law suits from past customer that were under his ownership? if yes so i better open new business license , no?

    thank you

  2. #2
    notary sojac Herb ԿԬ's Avatar
    Join Date
    January 18th, 2005
    Location
    Central/Western NY State
    Posts
    7,741
    are we talking about an affiliate marketing type business?

  3. #3
    Newbie
    Join Date
    December 12th, 2015
    Posts
    2
    darn it... i just realized that is only affiliate :<

    could to refer me to another website?

  4. #4
    Newbie
    Join Date
    December 26th, 2015
    Location
    Sacramento, CA
    Posts
    5
    is it true that a new business license tax is based on an estimate for its first year of operation?

  5. #5
    Super Dawg Member Phil Kaufman aka AffiliateHound's Avatar
    Join Date
    January 22nd, 2007
    Location
    West Covina, CA
    Posts
    8,443
    In most if not all states, specifically including California, business licenses are issued by each individual city, and each has its own rules. Just in Los Angeles county alone, the cost and filing requirement vary substantially from city to city. Some cities have a flat yearly fee and others collect a percentage of receipts. And even within one city, these things can and do vary by the nature of the business.

    ****

    "so short story is, I am in middle of negotiations with an business owner and my question is, do i need to purchase a new business license and a new tax id ?
    or he can just transfer the ownership rights to me?

    and the second question, will i be reliable for law suits from past customer that were under his ownership? if yes so i better open new business license , no?

    thank you "
    The answers to these questions all depend on the type of business entity, the nature of the business, and the terms of the agreement for the sale of the business. You cannot generalize on any of these issues.
    Since June 10, 2012 a vegan aarf but still writing the Hound Dawg Sports Blog
    "If you don't have time to do it right, when will you have time to do it over?" -John Wooden;
    "Raj, theres no place for truth on the internet." -Howard Wolowitz[/SIZE]

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