Step 4: Select a Structure

in Forum: Selecting a Business for Yourself
Source of this discusssion: /steps/55/3754/4/1/select-business-structure.htm Page description: "To each his own," as the expression goes. The same holds true for business structures - there's no universally "right" structure for all businesses.
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Jul. 18 2006 at 3:19 PM
Canadiasian Posted by: Canadiasian
I'm not really sure where this question belongs; however, where should I get a business license if I'm selling services (not goods) exclusively online? 

I've been living overseas for quite some time now, and I'm not certain when I'll be going home.   Of course, I could just set it up in my hometown, but do I have a choice?

(I'm  Canadian, but I'm sure this question is just as relevant to people of other nationalities as well).


Oct. 16 2006 at 4:23 PM
Joel Posted by: Joel StartupNation Team

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Oct. 20 2006 at 4:09 PM
Shra1 Posted by: Shra1

Very critical step, as I feel that a proper legal structure will help you protect your personal assets from business ventures/risks.

Also, read somewhere that having a C-Corporation will potentially allow oneself to tap into their retirement funds (IRA, 401K,SEP etc) for potential startup capital (early withdrawl)- without an IRS Penalty. There may be forms that need to be filled with IRS..Do work thru  professional legal advisor.

To your success!

-shra1
Oct. 21 2006 at 4:31 PM
etiquettediva Posted by: etiquettediva
I started as a sole propietor just to get my business up and running. However, I am working to convert to an LLC now.

The LLC was prompted first for liability protection, but now I need the tax advantages.

New entreprenuers are more savvy today. With help from the outside, like Startupnation and the SBA,  it's easier and faster to identify the need for proper legal structure.

Read everything and don't skip getting some legal help!

Robin
Robin Gifford :: Springboard :: Take your place in the world! www.springboardforsuccess.blogspot.com :: http://web.mac.com/robin.gifford springboard@windstream.net
Oct. 31 2006 at 6:48 PM
Tawnya Posted by: Tawnya
If you do go the route of corporation with a partner, make sure these is one that holds that extra share so when there is a standstill, it doesn't shut down the company. Certified Internet Marketing Specialist
Turning Clicks Into Cash For Her Clients!

Founder of the popular, informative, educational & resourceful Virtual Assistant Networking Association (VANA) and Author of The Virtual Business Startup System
Dec. 03 2007 at 7:26 PM
hollywoodgreg Posted by: hollywoodgreg
etiquettediva wrote: I started as a sole propietor just to get my business up and running. However, I am working to convert to an LLC now.

The LLC was prompted first for liability protection, but now I need the tax advantages.

New entreprenuers are more savvy today. With help from the outside, like Startupnation and the SBA,  it's easier and faster to identify the need for proper legal structure.

Read everything and don't skip getting some legal help!

Robin

 
I completely agree with you Robin,
 
StartupNation is SBA are great resources. And yes consult with an attorney.
Incorporate or form an LLC online

www.MyLLC.com
Dec. 10 2007 at 12:28 AM
No Photo Posted by: entreplanet
You get your business license in whichever city h all you're corporate headquarters is located.
My site: www.entreplanet.com

The community for entrepreneurs!
May. 13 2008 at 7:53 PM
No Photo Posted by: AVolmir
I'm new to business building.  I have just filed for LLC, but have a question about "members", are members considered as partners working with you or people that you hire?  Please help.
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