I'm looking into licensing a home-based business. I believe I have found most of the forms I need. However, there are some questions that I have regarding filling it out and if there is a certain order that it needs to be filled out in. Also, if I want to service more than just Gilbert, do I need to become licensed in every city that I want to service? Thank you!
No, you do not need to be separately licensed in every city you wish to serve. However, it would be money well spent to pay for a consultation with a lawyer about forming your business. You need to consider which form you want your business to take -- sole proprietor, LLC or corporation? How do you wish your business to be taxed -- like a partnership, with pass-through taxation, or as an S-Corp? There are many considerations and an attorney can help you weigh the pros and cons of each.
Like Ann has said, you likely will need to form a business entity in Arizona in order to help insulate the risks and liabilities of the business from your personal life, and vice versa. Most small business are well served by forming as a LLC - limited liability company. Once formed, there are some formatlities that you should follow in order to maintain your business separate from your personal life. A consultation with an attorney would be very advisable at this stage of formation.
Ian is the founding partner of Hasegawa Probate & Estate Planning PLC, offering Estate Planning, Asset Protection, Business formation and planning, Probate & related services. This response is informational only and does not create an attorney-client relationship.You should consult directly and privately with an attorney to discuss your particular circumstances in order to receive advice particular to your needs.
You are going down the wrong track! It is not just a matter of filling in forms. Setting up a business the right way takes knowledge and experience. Please discuss this with a good tax and business attorney.
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