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Starting a(n) room rental Business Licenses & Tax IDs |
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1. SELECT LLC, DBA, CORP
From sole propr., VA LLC, VA partneship or VA Corp.: Each requires an entity certificate filing.
2. TAX IDs - PERMITS
All
Internet Business
businesses/entities need a business license and an EIN.
3.
VA STATE SALES TAX ID.
Selling/Buying wholesale or retail
requires a VA 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.
Roseland 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 using a DBA Doing Business As Trade Name in
Nelson County
, i.e., starting businesses using a company name other than the legal (given name) owner's name, need a(n)
DBA Doing Business As Trade Name Registration.
For example, you start a(n)
business and you call it "Ultra
Co". You will need to file a trade firm name for it.
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Also, keep in mind that in
VA
though, a business license and a DBA is necessary for most businesses but if your business sells any taxable items, you will need a sales tax ID number.
(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.
If you are thinking of hiring help, you will need a state employer ID and an IRS number employer ID.
I.e., a VA Federal Tax Id Number ($29) and a(n) VA State Employer Tax Number
Instead of filing a fictitious business name DBA Filing (about $49 plus state and legal newspaper publication fees) in
Roseland, Incorporate in VA or form a(n) VA LLC .
If you will set up a corporation or form an LLC, you will not have to file a DBA (Doing Business As) unless your corproration or LLC name will be different that the busienss name you will trade under.
Businesses that use the full legal name of the owner as a business name do not need to register an assumed business name. So, for example, your name is "John X Doe" and you use that as a business name.
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),
it will help you avoid legal and financial personal liability arising out of business transactions and you will not have to register the Roseland business name.
Instead of filing a Nelson County fictitious business name (our service fee includes dba business name filing and legal paper publication) you can elect to incorporate in
VA or form an VA LLC (starts @ $49 plus state fee for most states & includes bylaws and LLC operating agreement)..
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