If you're thinking about starting a business, you'll have a long list of things to take care of. But don't miss out on one of the most important: filing your necessary business licenses. If you don't know what kind of business license you need or where to get one, you might be tempted to just skip it altogether.
If you sell products online, you need to be aware of some changes surrounding Internet sales tax. Here are some of the highlights of the law that you need to know to stay compliant and keep the IRS off of your back.
Congratulations! You've come up with a great idea for a new company. That’s half the work in starting a business. The other half is the hard work and dedication it takes to actually run it. And while you have a list a mile long that you need to take care of before you can actually open your doors, don’t overlook these tasks that many entrepreneurs forget about. Taking care of them up front will make your business operate that much more smoothly in the long run.
There are countless garage-to-Fortune 500 success stories. Jeff Bezos first ran Amazon.com out of his garage in Bellevue, Wash. As Stanford University graduate students, Larry Page and Sergey Brin launched Google from Susan Wojcicki’s garage. And invoicing company FreshBooks was headquartered in Mike McDerment’s parents’ basement for 3.5 years. Launching a business from your garage, basement or dining room table is a great way to keep overhead costs down when you’re just starting out. And in most cases, it’s usually the only option for bootstrapping startups. But how are you supposed to handle a home-based startup from a legal perspective? When running a business from your home, you need to take your legal obligations seriously. Getting your legal ducks in a row right from the start will help you avoid any pitfalls down the road as you scale up and move out of the garage.
The state of Illinois recently had a state sales tax law struck down that could provide some exciting opportunities for entrepreneurs who are looking to form an LLC in Illinois. Do you want to incorporate in Illinois? CorpNet can help! Even though we’re based in California, CorpNet can help you incorporate in IL or any other state. Check out our state-specific business formation packages to form an LLC in IL, incorporate in IL as another corporate entity, or start a business in any other state.
How states should tax Internet sales is one of the hottest issues in state legislatures today, as cash-strapped states look to close perceived loopholes and put more money in their coffers. California recently passed a law requiring out-of-state retailers to collect sales taxes on purchases made by California customers. This new law particularly affects Amazon.com, and other large online merchants, who up to now have not charged sales taxes on purchases made in the state. So if you’re a Californian who has been used to enjoying tax-free purchases from Amazon on anything from large screen TVs to groceries or clothing, those times are quickly coming to an end. California is not alone. Illinois passed a law back in April. And Colorado, New York, North Carolina, and Rhode Island also impose some form of the law as well.
Another summer is officially over. It’s time to start trading in beach towels for some warmer clothes. For the busy entrepreneur and business owner, September marks the perfect time to focus on goals. September is your month…and it’s time to turn your dreams into reality. Whether you’re considering starting your own business, or your business is already in full swing, the start of fall is a perfect time to take stock of what needs to get done–because, believe it or not, the New Year is right around the corner.
In business, like in life, there are going to be parts you love, and parts you’d rather sweep under the rug for awhile. More often than not, the legal aspects of running a business are pushed aside as you focus on serving your customers and making money. While the legal fine print may not be the most glamorous or exciting part of your business, it can be absolutely critical to the success of your business, and the safety of your personal savings. In this post, I'll be providing a quick rundown of the laws and regulations you need to consider for your small business as a small business owner.
Your decision to start your own business likely took place over a period of time, giving you opportunities to think and plan before you take action. In addition to focusing on the details of your company, you also need to give proper attention to the bureaucratic details that most people detest. Business is business. The state and federal governments have a vested interest in the operation of your enterprise and require licensing and permits for a wide variety of businesses.
Requirements vary from state to state, and for specific type of businesses, […]