[radiojr]

I am really into my dream of owning my own company, but like most people the laws for businesses scare me. I don't know what paper work I need to file to get my company up and running, I don't know the tax for products or who I send it too, I don't know any of this? Can you guys please help me out here. I need to know all these answers before I spend money on owning a business and then finding it to make me bankrupted for the rest of my life. Please help me. Is there any sites I can check out?

[bps092]

Well, i'm not from where you are so it is hard to determine your laws and proceedures etc. But the best way to get info on the matter is to find your State website for licensing, or Department of Revenue. If you aren't lazy hehe (just playing), take a drive to your local town hall. Go to the town clerks office and ask questions, they are there to help you and they have all the proper forms. You could spend hours reading books but they all tell you the same thing. Free advice from your local officials is faster, free and easy. You will probably need a business license or trade name certificate and tax id.

Since your a newb to business, for your first venture I strongly suggest filing for a sole proprietorship with and LLC (limited liability company) since you sound young. If you are under the age of 18, you will probably need a co-sign from your legal guardian on all forms. This puts them under liability. The LLC basically is a gov. certificate that states that you cannot be sued or have money taken from your assets, your parents assets, only the business it'self. This gives you a lot of protection!

Later on if you parter up with someone, you can get a LLP (limited liability partnership) which is self explanitory if you read above.

There are so many other free resources on the internet that you can use, don't be afraid to do your research! But don't think you have to spend $1,000 at Barnes and Noble or Borders Book store ahha.

Good luck, reply or PM me if you need anything