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9 Replies Last post: Jan 13, 2009 8:27 PM by MicroGrizzly

Should I register a company name first?

Mar 14, 2008 9:11 PM

lamp.oil_prop 7 posts since
Mar 14, 2008

I am planning on focussing on Wholesale deals in Real Estate. Should I register a company name first? any advice please

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LUCKIEST 7,935 posts since
Aug 6, 2007

1. Re: Should I register a company name first? Mar 14, 2008 9:18 PM

Yes you should register a company name first.
Go to IRS.gov and register and get a Federal I D Number.
LUCKIEST

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lamp.oil_prop 7 posts since
Mar 14, 2008

2. Re: Should I register a company name first? Mar 14, 2008 10:47 PM

in response to: LUCKIEST

after registering a company, am I automatically required to pay tax irrespective of i complete a deal or not? if so, how can i estimate the amount? please excuse my ignorance.

thanks Luckiest!

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spizyhost.com 6 posts since
Mar 6, 2008

3. Re: Should I register a company name first? Mar 15, 2008 4:28 AM

in response to: lamp.oil_prop

If you want your business to have web presence, I would recommend registering your domain name now.

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LUCKIEST 7,935 posts since
Aug 6, 2007

4. Re: Should I register a company name first? Mar 15, 2008 5:15 AM

in response to: lamp.oil_prop

No, you are not automatically required to pay taxes.
Federal Taxes are usually based on income.
Some States have a minimum tax at end of year.

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lamp.oil_prop 7 posts since
Mar 14, 2008

5. Re: Should I register a company name first? Mar 15, 2008 6:16 PM

in response to: LUCKIEST

Thank you very much LUCKIEST. I just got it clear about the Federal part. Are you saying that some state would require a minimum tax irrespective of income made or not?

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nytaxguy 15 posts since
Apr 28, 2008

6. Re: Should I register a company name first? Apr 28, 2008 4:00 PM

in response to: lamp.oil_prop

For Federal, no income means no tax. If you incorporate there may be a minimum franchise tax depending on the state you are doing business in. In NY the minimum tax is $100. If you are a sole proprietor or a partnership there is no minimum tax in NY for either and I believe this is true in most other states as well. If you are an LLC you can elect to report for tax purposes as a sole proprietor, partnership, S-corp or C-corp. In NY there is a minimum tax for LLCs regardless of which reporting form you choose.

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mark10 1 posts since
Apr 28, 2008

7. Re: Should I register a company name first? Apr 28, 2008 5:06 PM

If you want to build a serious business, you should. It's like building a house. Do you want to build your house without doing a soil test first? So, you should check first to see if your business name is available, meaning that nobody else is already using it. A comprehensive trademark search is the best option to accomplish that. A legal document service like legalarrow.com can help.

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Mybizfiler 35 posts since
Aug 20, 2008

8. Re: Should I register a company name first? Sep 8, 2008 7:36 PM

Hi,

You should reserve / register your entity name. Most states keep this registration for 30 days and for some states this reservation is not even mandotary...just a name check would work. To incorporate your business is the next step. Other important factor that comes to your mind is where to incorporate. The simple choice will be to incorporate in your Home State.

We at ICS, makes your task easy and help you providing incorporation of a business in US and provide complete incorporation services at competitive pricing. ICS (www.mybizfiler.com) can help you and your business offers a wide range of services typically offered by a Big 5 Accounting firm and a CPA firm in the U.S. ICS offers Incorporation, Book Keeping, Payroll Services, HR & Business Consulting etc.

The check list to incorporate a Business:

Ø Name Search
Ø Articles of Incorporation / Articles of Organization( in case of LLC)
Ø Registered Agent Services
Ø EIN
Ø Corporate kit ( Corporate Seal, 20 Stock Certificate, Stock Transfer Ledger)
Ø Certificate of Good Standing
Ø Foreign Qualification
Ø Corporate Bylaws
Ø Maintenance of Corporate Minutes
Ø Shareholder Resolution

You can reach Mr. Nirmal Jain (Senior Manager) at 469-713-2541 and can mail him @ nirmal.jain@mybizfiler.com, as he is very well experienced and has considerable knowledge in incorporation services.

For more information and details please visit ICS web site http://www.mybizfiler.com/.

You can also visit our informational blog site: http://mybizfiler.wordpress.com/.

Best Regards,

MyBizfiler

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MicroGrizzly 11 posts since
Nov 12, 2008

9. Re: Should I register a company name first? Jan 13, 2009 8:27 PM

in response to: lamp.oil_prop

Hi Lamp,

In California I had to pay about $800 minimum state tax even though I had expenses and no income

What a stupid state law - go open in Nevada

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Should I register a company name first?

Mar 14, 2008 9:11 PM

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