is making corporation same thing as registaring business?

T

TroubleTimes

Registered Member

Feb 15, 2012

66

1

• Jun 21, 2012

• #1

Hello, I am going to file for small business corporation . it is costing me $281 is filing fees. I have a dumb question. does this gets me business licsence?
Is registrating business difefrent than getting licsence or same thing. Thank you

 

PartyNeon

Regular Member

Feb 27, 2012

209

602

• Jun 21, 2012

• #2

Depends. Usually if you register an LLC or C-Corp you have full business rights. However, in the United States you need to file for your TID number in order to open a bank account. Once you have an active bank account, you will have full rights to conduct commerce. Usually, you need a merchant account for online sales.

 

T

TroubleTimes

Registered Member

Feb 15, 2012

66

1

• Jun 21, 2012
• Thread Starter Thread Starter

• #3

i am going for S corp.

 

T

TroubleTimes

Registered Member

Feb 15, 2012

66

1

• Jun 21, 2012
• Thread Starter Thread Starter

• #4

what is a merchant account?

 

A

aamizan

Newbie

Jul 1, 2012

5

0

• Jul 1, 2012

• #5

For an S Corp you will need to be a US Citizens or Permanent Resident.
Otherwise, you will not get the S Corp selection approved by the IRS.

You can own and operate a business in the US as an LLC or as a sole proprietor. No need to form a corporation unless you have a specific reason.

I do those all the time for clients. If you have any questions or need help filing the paperwork, I can help.

 

L

leonardodv

Junior Member

Jun 14, 2011

111

14

• Jul 1, 2012

• #6

defintely you need to pay for a yearly business license fee in USA, unless your business type does not require a license.

 

H

hawgbert

Junior Member

Jun 13, 2012

101

14

• Jul 2, 2012

• #7

Not to further complicate matters, but you may also be required to obtain a license from the city or county in which you'll be located. In my state (Florida), you register your business with the State, request a EIN (Employer Identification Number) from the IRS if you need to make a corporation, and use the EIN to open bank accounts, etc.

 

flexpaydude

Elite Member

May 30, 2009

2,402

766

• Jul 3, 2012

• #8

You may want check if your product/service requires you to collect state sales tax, as well. Bounce it off your cpa if you have one.