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October 31st, 2005, 10:53 AM #1
- Join Date
- September 5th, 2005
- Mansfield, TX
How do you go about incorporating your web business including copyrighting your business name? I know alot of it is state specific. I am in Texas. I was trying to figure out if it would be worth doing and how much it would cost. Anyone have any experience with this? Any advise would be appreciated. Thanks.
October 31st, 2005, 10:58 AM #2
- Join Date
- January 17th, 2005
You should talk with your tax guy/gal for advise on this. Some of them will even do the majority of the paperwork.
October 31st, 2005, 02:23 PM #3
October 31st, 2005, 02:31 PM #4As far as I know, you can live in TX and incorporate in NV or DE, for example (the two states that have most liberal corporate laws, no sales tax, etc...) You might want research that.
October 31st, 2005, 02:33 PM #5
Secretary of state usually will have the info on incorporation.
I went to the state.gov site and couldn't find anything then my brother pointed me to the secretary of state area and they had all the info I needed(including forms and fees).
Now I have to decide what kind of corporation....Suz~~GearGirl~~
October 31st, 2005, 03:03 PM #6
What's best depends on many different circumstances: how much you plan on earning, how much you plan on keeping in the company, whether you're going to have employees, the potential liabilities, how many owners you'll have, where you'll have a business presence, whether you'd like to fund an SEP IRA, etc. Talk to a good tax accountant or attorney or be ready to do a lot of research on your own. If you choose the default type of corporation (a C Corp), you will be double-taxed. Here in Texas, it's tough to beat the simplicity and tax benefits of being a Sole Proprietor, although an S Corp or an LLC can come close.
October 31st, 2005, 03:44 PM #7
Go with S-Corp!
October 31st, 2005, 04:23 PM #8
One of my brother is incorporated as an s corp and that is what he recommended, which is the way I think I'll go. My other bro is a lawyer and claims it wouldn't make a difference for me cuz I'll never be making enough money for it to matter!!
(I'll always be the errant little sister to him )
October 31st, 2005, 11:53 PM #9
C corp has some advantages for privacy. Everyone's case is different, and a good accountant is worth the price.
November 1st, 2005, 06:58 AM #10
Last weekend I attented a real estate expo and a good chuck of it was setting up a corporation since most were going to be flipping properties. Most lawyers I talked to said a LLC was the way to go. I am not sure what is best at this business myself. I have an appointment with my tax guy later this week. I can tell you sole proproieter is not the way to go.
November 1st, 2005, 07:15 AM #11
what really matter in making a desision like this is how much do you plan to earn... (realisticly) , are wanting to shelter income (save on taxes) protect your self against lawsuits...
for most affiliates... LLC or S-corp is all that is needed... it gives some protection, yet lets you pass income through to your seld so you are taxed only once.. at the lowest tax rate...
C- corp is a completely dofferent animal... here you have a stand alone company. unless you're doing huge business or are selling products... I wouldn't reccomend it..
with C- corp you will be taxed twice... you will be taxed as a company... and then your income as an employee of the company will be taxed as well...
like as has already mention... consult a good tax attorney or accountant... before you do anything... the you will more then save the cost of this advice.
that's my2cents, 'cuz I'm a legend in my own mind....
November 9th, 2005, 07:32 AM #12
Before talking to your tax guy or the lawyer, go to a nearby bookstore & spend some time reading about the different entities (C-Corp, S-Corp, LLC etc). This way you will be better prepared. You will know what to ask the tax guy & you will be able to understand what he says.
November 9th, 2005, 08:33 AM #13
These are actual attorney website with all the info you need. Not a referal service.
Six Powerful Reasons to Incorporate or Organize an LLC
There are many advantages to incorporating or organizing an LLC. When you incorporate or organize an LLC, you are protecting yourself from personal liability. You will also be able to immediately take advantage of the tax system. Incorporating or organizing and LLC enables you to make use of a marketing framework and this in turn makes it a lot easier to raise capital & establish corporate credit. A Corporation or LLC may also take advantage of state laws that grant it more privacy. Certain states allow a Corporation or an LLC to be set up such that the shareholders, owners or members remain anonymous, and many times, the same anonymity can be accomplished for officers, directors or operating managers. In most states, the officers, directors and operating managers of a company are disclosed, however, shareholders, owners and members remain anonymous. Finally, a corporate or LLC structure can result in an easier transfer of ownership when it comes to various assets. We will now discuss these individual advantages on a more detailed basis.
Let us begin with the most important reason to incorporate or organize an LLC - that is to protect yourself from personal liability. continued
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