been thinking about forming an LLC.
Will I have to file for a Business License, Fictitiouse name and a DBA ?
I wanted to open a separate business checking account, and most banks will ask for this stuff.
Thanks
Separate business checking for the LLC is a must. Ficticious name/DBA is not necessary in most jurisdictions unless the LLC is operating under multiple names. A business license is normally only necessary if you are charging sales tax - not normally an issue with real estate.
John Hyre
whether you need a business license really depends on the local laws. Some places have income threshold, etc. As an example, where I live the city (in Calif) is extremely aggressive about business licenses since they had limit sale taxes revenue. They routinely check the LLC filings with state. They even require licenses for people working part-time to provide in-home assistance to elderly folks in a local retirement community.
On the flip side, a buddy formed consulting company as a single member LLC in NC and did not need a license depsite living in a large city.
A quick phone call to your local gov’t could save you bunch of hassle later.
thanks for the edvice.
I think I’m just going to be on the safe side and file all the paperwork. It will save me from trouble in the long run.
Filing for sales tax licenses (e.g. - “vendor license”) can create much needless paperwork in the future if you are not required to file up front. Which state are you in?
John Hyre
Ca.
Oh, yuck. CA is a very annoying state to do business in. I personally doubt that you need a “business license”, but you will have a formidable tangle of bureaucratic items to address. Go to the secretary of state & state tax websites and download their registration packets. Take an aspirin first & get a big jug of coffee.
John Hyre