Please sign in to post in this forum.

ForumsHome Based Business

Up to All Forums

This Question is Answered

3 "helpful" answers available (4 pts)
Post a new topic
12 Replies Last post: Apr 2, 2009 6:25 PM by PajamaMan07

New business question

Apr 7, 2009 12:06 AM

Click to view dramaqueens's profile Professional dramaqueens 4 posts since
Apr 6, 2009
My sister and I just applied for a business license today as a partnership. I was told to apply for a new EIN which I did, but there was only space for my information, and not both of ours. I was given a EIN number. Do we need 2?? It says I am fully responsible, not both of us. Would love an explanation if you can!! Thanks in advance. I love SCORE!
Tags: Report as inappropriate
Click to view omd1005's profile Start-up omd1005 2 posts since
Apr 6, 2009
1. Re: New business question Apr 7, 2009 12:43 AM
in response to: dramaqueens
Where did you apply for the liscence?
Report as inappropriate
Click to view dramaqueens's profile Professional dramaqueens 4 posts since
Apr 6, 2009
2. Re: New business question Apr 7, 2009 12:48 AM
in response to: omd1005
At our town's Business Licensing Office.
Report as inappropriate
Click to view dublincpa's profile Mogul dublincpa 165 posts since
Jan 29, 2008
3. Re: New business question Apr 7, 2009 4:40 PM
in response to: dramaqueens
If you filled out the application correctly, you are just the person they will look for.

If you have a real partnership agreement, you are both jointly and severally liable for the partnership's taxes. Mainly this will matter if you hire employees or your state has a partnership level tax.
Report as inappropriate
Click to view dramaqueens's profile Professional dramaqueens 4 posts since
Apr 6, 2009
4. Re: New business question Apr 7, 2009 8:46 PM
in response to: dramaqueens
I mean: Stanislaus County, sorry for the confusion. Thank you.
Report as inappropriate
Click to view dramaqueens's profile Professional dramaqueens 4 posts since
Apr 6, 2009
5. Re: New business question Apr 7, 2009 8:47 PM
in response to: dublincpa
Ok thank you very much, I filled it our correctly. I appreciate your reply.
Report as inappropriate

More Like This

Legend

  • Open Question
  • Answered Question
  • New content since your last visit
  • Updated content since your last visit
  • Content you have read