vennardk
04-05-2010, 11:09 PM
Hello,
First I want to thank you all for coming together and forming this great site. Been reading a number of past posts! I'll try to hit all the details.
I am looking to start up an entity. The team consists of two guys in AZ, another in Washington state, and myself in MI. We all have primary jobs outside of this business. We would be providing an internet based entertainment service... Not porn I swear! ;)
Our questions are as follows:
What entity? I am partial to the S-Corps. We will likely be netting a grand total of $100,000 in 3-5 years. I want to avoid having employees! We will likely never have more than 10 employees and even that seems high. We will never have inventory. We will possibly be looking for investors. Like everyone else, we want to avoid personal liability as we will have high involvement with the public.
What state? I am favoring NV for tax reasons. What kind of additional fees am I looking at?
Do we need to go through Foreign qualification? I tend to think not because there is no tangible property or goods outside of NV. No sales of goods at all.
Do I need a business License? I believe not because we will be a home based business...
What are the advantages and disadvantages to a home based business?
Are these internet based incorporation sites really worth the moeny? ie Legalzoom, mycorporation, The Company Corporation, ect.
If so, what is your preferred one?
Does anyone have a check sheet of forms that need to be filled out so I can do it myself?
Is doing it yourself a bad idea?
Thank you kindly for any input you can provide us. I really do appreciate it!
First I want to thank you all for coming together and forming this great site. Been reading a number of past posts! I'll try to hit all the details.
I am looking to start up an entity. The team consists of two guys in AZ, another in Washington state, and myself in MI. We all have primary jobs outside of this business. We would be providing an internet based entertainment service... Not porn I swear! ;)
Our questions are as follows:
What entity? I am partial to the S-Corps. We will likely be netting a grand total of $100,000 in 3-5 years. I want to avoid having employees! We will likely never have more than 10 employees and even that seems high. We will never have inventory. We will possibly be looking for investors. Like everyone else, we want to avoid personal liability as we will have high involvement with the public.
What state? I am favoring NV for tax reasons. What kind of additional fees am I looking at?
Do we need to go through Foreign qualification? I tend to think not because there is no tangible property or goods outside of NV. No sales of goods at all.
Do I need a business License? I believe not because we will be a home based business...
What are the advantages and disadvantages to a home based business?
Are these internet based incorporation sites really worth the moeny? ie Legalzoom, mycorporation, The Company Corporation, ect.
If so, what is your preferred one?
Does anyone have a check sheet of forms that need to be filled out so I can do it myself?
Is doing it yourself a bad idea?
Thank you kindly for any input you can provide us. I really do appreciate it!