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Got my articles of orginazation today!
- Thread starter chesty
- Start date
M
May1010
Guest
I thought they were called "Articles of Incorporation."
What kind of business are you in?
What kind of business are you in?
For a limited liability company they are referred to articles of orginazation. It has most of the protections and benifits of a full corporation, but not the taxes. What the store makes is what I make. Unfortunately I still have to pay 50% in taxes on net profits to good 'ol uncle sam.
M
May1010
Guest
What do you make? That is, what type of goods and services will you be selling? Have you also checked out the sales/use tax consequences in addition to your income tax issues?
R
RyanH
Guest
Smart move Chesty....limited liability corporations will also shield you from liability if you ever have any claims brought against you (that's in most states).
But, remember that the limited liability shield and the corporate shield can always be pierced, and you can be held personally liable if you don't keep minutes, adequately capitalize the corporation, and so on.
Also, incorporation requires that you pay a double tax so to speak, so you were smart to go the LLC route instead.
But, remember that the limited liability shield and the corporate shield can always be pierced, and you can be held personally liable if you don't keep minutes, adequately capitalize the corporation, and so on.
Also, incorporation requires that you pay a double tax so to speak, so you were smart to go the LLC route instead.
That is exactly what I was advised to due by the sba.
I will have a retail hobby store and do engineering both professional and for the hobbiest.
I will design R/C planes, cars, boats for those who don't like what is currently on the market.
I will also do professional structural engineering for the aerospace community. (that will be a tough nut to crack on my own, due it for a company now)
I will also host my own website, mail, bulletin boards, how to's in hobby, e-commerce for hobby's, supplies, and engineering.
The web portion will be 3D website as opposed to the vast majority that are 2D. I will be hosting the server myself.
Inititially I will be starting out with a dual p3 1gig processor, and a gig of memory using ms 2000server.
I need a good mail server if it doesn't come with the 2000server. Any thoughts? How about a firewall with moderate protection. I will not have any personal, financial or otherwise info on the site that would need top of the line security.
Hopefully, this all catches on and in a year I will upgrade to a full on dedicated server, firewall, well you know the drill.
As for the hobby store I have always wanted to do that, just was never able to till now. I am going to offer mucho services that I feel have always been lacking in hobby stores. Too much to list here.
If interested I can email a rough draft of the business plan for the hobby store.
I will have a retail hobby store and do engineering both professional and for the hobbiest.
I will design R/C planes, cars, boats for those who don't like what is currently on the market.
I will also do professional structural engineering for the aerospace community. (that will be a tough nut to crack on my own, due it for a company now)
I will also host my own website, mail, bulletin boards, how to's in hobby, e-commerce for hobby's, supplies, and engineering.
The web portion will be 3D website as opposed to the vast majority that are 2D. I will be hosting the server myself.
Inititially I will be starting out with a dual p3 1gig processor, and a gig of memory using ms 2000server.
I need a good mail server if it doesn't come with the 2000server. Any thoughts? How about a firewall with moderate protection. I will not have any personal, financial or otherwise info on the site that would need top of the line security.
Hopefully, this all catches on and in a year I will upgrade to a full on dedicated server, firewall, well you know the drill.
As for the hobby store I have always wanted to do that, just was never able to till now. I am going to offer mucho services that I feel have always been lacking in hobby stores. Too much to list here.
If interested I can email a rough draft of the business plan for the hobby store.
TxCollegeguy
New member
Chesty let me know when your store has it's website online, I would be interested in seeing what you have for sale
Because it is what I want to do and in the short run and long run it is cheaper than renting disk space from a web service company to host my site. I already am paying for the access for a business and that is a cool 100 bucks a month just for the line and access and then it can upwards of several hundred bucks for adequate disk space, and reliable third party hosting. As the business grows so will the server from dual processor workstation to a dedicated server.
I also don't like allowing others control over my personal as well as business assets. If I want to sell a certain product, print certain material or whatever the case maybe I will do it. Plus, I don't have the added burden of snoopy agents on as big a scale as if I was renting disk space somewhere.
Tx, when I go online I will let you know. It won't be fancy at first, but we are working towards a full on interactive 3D site. I sure hope it comes together as I envision it. I have already highered a guy I work with to start the design.
Of course it will also have an optional 2D format for those who don't have the connectivity speed or just don't like 3D.
I also don't like allowing others control over my personal as well as business assets. If I want to sell a certain product, print certain material or whatever the case maybe I will do it. Plus, I don't have the added burden of snoopy agents on as big a scale as if I was renting disk space somewhere.
Tx, when I go online I will let you know. It won't be fancy at first, but we are working towards a full on interactive 3D site. I sure hope it comes together as I envision it. I have already highered a guy I work with to start the design.
Of course it will also have an optional 2D format for those who don't have the connectivity speed or just don't like 3D.
