| Starting a(n) Business Licenses & Tax IDs |
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You can choose to be a(n) Selling Shrimp I Have Breed :
- Sole Proprietor,
- LLC,
- Corporation or
- Partnership.
After you decide and select your business entity, you need licensing.
Philomath Business Tax Registration (
Business License)
All businesses including home, online or mobile BUSINESS need a BUSINESS license because they are BUSINESSES.
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A(n) Selling Shrimp I Have Breed business doing business under an assumed business name in
Benton County
i.e. you are a business that uses a DBA doing business as trade name to trade that is other than the full legal (first and last -- full name) name of a sole proprietor or a name other than the LLC or Corporation business name need a(n)
assumed business name certificate.
E.g. you venture into a(n)
Selling Shrimp I Have Breed
business and you give it a trade name such as "Excellence
Selling Shrimp I Have Breed
& Associates". You will need to register an assumed business name certificate.
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In addition note that in
OR
you may also need a seller's permit if you sell merchandise that is taxable.
(A.K.A state id, wholesale, resale,
reseller certificate, about $39 for most states).
Seller's Permit
Note: All businesses need a federal tax ID number except sole proprietors that are not employers and are not independent contractors.
An independent contractor is a self employed business person that receives more than $600 per year from anyone of his or her clients.
IRS rule: The client must issue a 1099 form to the independent contractor and the independent contractor must have a federal tax ID.
However, even sole owners may obtain a federal ID and use it as a business tax ID instead of using their own social security number as a
business tax ID number.
However, all other licenses that apply to sole proprietors as discussed here are requited regardless of getting
a federal tax ID number.
In addition you will need a federal and a state EIN if you will hire employees.
I.e., a OR Federal Tax Id Number ($29) and a(n) OR State Employer Tax Number
Instead of filing a fictitious business name DBA Filing (about $49 plus state and legal newspaper publication fees) in
Philomath, Incorporate in OR or form a(n) OR LLC .
Filing a DBA is not required if you will set up an LLC or form a Corporation.
There is a cicrcumstance that you may not need to register a trade name and that is when you use your full name as a business name if you use your full legal name as a trade name.
Also note that even using your first and last name may not help you avoid filing a DBA if the name has a suffix such as "& sons" etc.
If you do form an Internet Selling llc or incorporate (about $49 plus state fees for most states) your Selling Shrimp I Have Breed business instead of just filing a fictitious business name (dba),
that insurs that you don't have personal liability for debts and civile liabililty arising from your business dealings and you will not have to record the Philomath business name.
Instead of just registering your Benton County assumed business name (our fee includes assumed business name registration and legal newspaper publication) you can choose to setup a corporation in
OR or form an OR LLC (starts @ $49 plus state fee for most states & includes bylaws for the corporation and Limited Liability operating agreement for the LLC that is required to open a business bank account). .
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