Starting a(n) Rental Properties Business Licenses & Tax IDs

Hi, I'm WHAT IS REQUIRED TO FORM LLC Here is what is required to form an LLC.

1. First think of an LLC Name. For example, "Best LLC".
2. File an LLC Certificate ( articles of organization).
3. Execute an LLC operating agreement. The agreement outlines the duties and rights of each LLC member and the % or ownership. For e..., .

Hi, I'm What do i need to start llc for rental properties

Rent owned properties

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Rental Properties

As the majority of Rental Properties businesses, 99.9%, you will need an occupational business license even if you obtain a free LLC filing or you incorporate. In addition, you may need a federal tax ID number, and if you sell any merchandise, you will need a resale tax ID number. Also note that all LLC s need an occupational business license. Also, if the LLC has more than one member, or you will file a tax return for the LLC as a corporation as opposed as a disregarded entity, you will need a federal tax ID number for the LLC . Starting a business fist step is to choose the tax legal structure. There are three major ones:1. Rental Properties, Sole proprietor, 2. Partnership, and 3. Corporation or Limited Liability Company. All small, home or web based businesses as well as big businesses must choose and register as on of the above. In addition, businesses must obtain a business tax registration occupational license receipt. If selling any taxable items,a business must also get a reseller ID number to buy wholesale and sell retail. Finally, if a Rental Properties business is an employer, it needs to get a federal EIN and a State EIN.WE ARE 3 PARTNERS INVESTING PERSONAL FUNDS INTO REAL ESTATE PROPERTIES, AND RENTING THEM TO THE PUBLIC IN ANY U.S. STATE. POSSIBLY SELLING SOME PROPERTIES USING 1031 EXCHANGE.Want to do rental properties should I do LLC want To do rental properties whatI have rental properties. Would I need a tax id number or a business licenseI have rental properties. Would I need a tax id number or a business licenseok I live in wv and am wanting to obtain a business licence to open up a trailer park for rentals and separate LLC accounts for each trailer what type of business license do I need?Yes, I am looking for the FEIN for Top Progressive Properties, LLC recently started in Ohio. Can you find it for me.Can you send me the FEIN for Top Progressive Properties, LLC this morning?

1. SELECT LLC, DBA, CORP

From sole propr., LA LLC, LA partneship or LA Corp.: Each requires an entity certificate filing.

2. TAX IDs - PERMITS

All Finance, Insurance, And Real Estate businesses/entities need a business license and an EIN.

3. LA STATE SALES TAX ID.

Selling/Buying wholesale or retail requires a LA seller's permit.

✔ Biz Structure

You can choose to be a(n) :

Sole Proprietor,
LLC,
Corporation or
Partnership.
After you decide and select your business entity, you need licensing.

✔ Biz License

Youngsville Business Tax Registration ( Business License)
All businesses including home, online or mobile BUSINESS need a BUSINESS license because they are BUSINESSES.

✔ DBA Biz Name

A(n) business using a fictitious business name in Lafayette Consolidated Government 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) fictitious business name. For instance you open a(n) business and you name it "Superior Group". You will need to file a fictitious business name for that name.

✔ Seller Permit

In LA 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

✔ Federal EIN

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.

✔ State EIN

In addition you will need a federal and a state EIN if you will hire employees. I.e., a LA Federal Tax Id Number ($29) and a(n) LA State Employer Tax Number

✔ L L C

Instead of filing a fictitious business name DBA Filing (about $49 plus state and legal newspaper publication fees) in Youngsville, Incorporate in LA or form a(n) LA 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.

✔ Incorporation

If you do form an Finance, Insurance, And Real Estate 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 Youngsville business name. In lieu of recording a Lafayette Consolidated Government 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 LA or form an LA 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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