You can avoid being personally liable for liabilities arising out of business transactions if you set up an LLC or form a corporation. For example if a client slips and falls in your store you will not be subject to lawsuits if you have formed an LLC or set up a corporation. If you planning big such as becoming a publicly traded company you will need to set up a C corporation to offer stock shares in the stock market. An S corporation avoids all associated formalities and can only issue stock to a small number of shareholders and the stock cannot be bought publicly that is in the stock market. If you start alone and are a sole owner you will have to pay self employment taxes that are higher than normal employment taxes. If you want to avoid that an S corporation. Such business structure separates your salary with dividents and you will save on taxes because dividents are not subject to self employment taxes. To look like a serious and prestigious business it is recommended that you incorporate or form an LLC because such legal business entities are more respected in the business world.

In some cases Even online or home based businesses need to obtain all necessary licenses like any other business. Commercial location stores need a business license and some zoning clearances. If your business is located in the county but not within city limits you may nevertheless be subject to both city and county rules. Neet to buy and sell guns online as well as amunition There are certain businesses that have health issues such as a restaurant. These businesses need a health inspection in most cases.

Click Here to Submit It.