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Starting a(n) Real Estate Wholesaler Business Licenses & Tax IDs |
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Hi, I'm valerie richardson DO I need a LLC For Online
IM A REAL ESTATE WHOLESALER | , valerie richardson. |
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1. SELECT LLC, DBA, CORP
From sole propr., Columbus LLC, GA partneship or GA Corp.: Each requires an entity certificate filing.
2. TAX IDs - PERMITS
All
Internet Business
businesses/entities need a business license and an EIN.
3.
Columbus STATE SALES TAX ID.
Selling/Buying wholesale or retail
requires a Columbus seller's permit.
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You can choose to be a(n) :
- Sole Proprietor,
- LLC,
- Corporation or
- Partnership.
After you decide and select your business entity, you need licensing.
Decatur Business Tax Registration (
Business License)
All businesses including home, online or mobile BUSINESS need a BUSINESS license because they are BUSINESSES.
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A(n) business doing business under an assumed business name in
DeKalb County
i.e. you are a business with a trade name other than the owner's legal (full name) name are required to get a(n)
assumed business name certificate.
E.g. you venture into a(n)
business and you give it a trade name such as "Excellence
& Associates". You will need to register an assumed business name certificate.
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In
Columbus
you need a resale ID ( AKA seller's permit) if you selling touchable items.
(A.K.A state id, wholesale, resale,
reseller certificate, about $39 for most states).
Seller's Permit
Note: All businesses need a federal tax ID number except sole proprietors that are not employers and are not independent contractors.
An independent contractor is a self employed business person that receives more than $600 per year from anyone of his or her clients.
IRS rule: The client must issue a 1099 form to the independent contractor and the independent contractor must have a federal tax ID.
However, even sole owners may obtain a federal ID and use it as a business tax ID instead of using their own social security number as a
business tax ID number. However, all other licenses that apply to sole proprietors as discussed here are requited regardless of getting
a federal tax ID number.
In addition you will need a federal and a state EIN if you will hire employees.
I.e., a Columbus Federal Tax Id Number ($29) and a(n) Columbus State Employer Tax Number
Instead of filing a fictitious business name DBA Filing (about $49 plus state and legal newspaper publication fees) in
Decatur, Incorporate in Columbus or form a(n) Columbus LLC .
You have a choice to file a DBA or form an LLC or incorporate.
If you will do business under your first and last legal name you will not need to get a fictitious business name.
Also note that even using your first and last name may not help you avoid filing a DBA if the name has a suffix such as "& sons" etc.
If you do form an llc or incorporate (about $49 plus state fees for most states) your business instead of just filing a fictitious business name (dba),
that insurs that you don't have personal liability for debts and civile liabililty arising from your business dealings and you will not have to record the Decatur business name.
In lieu of recording a DeKalb County trade company name (our filing service fee includes trade name registration and newspaper legal publication for 4 weeks) you can also form a corporation in
Columbus or form an Columbus LLC (starts @ $49 plus state fee for most states & includes required documents such as bylaws for the corporation and Limited Liability operating agreement for the LLC). .
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