Skip Navigation Links
Free LLC
Fees
FAQ
Order
| | |
Skip Navigation Links
Free LLC
Q and A
Quiz
Services
Fees
FAQs
Contacts (773) 377-6360
Get it Now!
| | |
 
@@@@@@@
Starting a(n) Investing Business Licenses & Tax IDs
Hi, I'm   Set up LLC in nj  
Set up LLC in nj Finance, Insurance, And Real Estate KO Dream Homes Investing
,  .
Hi, I'm Jordan what is an investing llc  
I am an investor. I buy and sale homes.
, Jordan.
Investing
As the majority of Investing businesses, 99.9%, you will need an occupational business license even if you obtain a free LLC filing or you incorporate. In addition, you may need a federal tax ID number, and if you sell any merchandise, you will need a resale tax ID number. Also note that all LLCs need an occupational business license. Also, if the llc has more than one member, or you will file a tax return for the LLC as a corporation as opposed as a disregarded entity, you will need a federal tax ID number for the LLC.Starting a  Investing  business fist step is to choose the tax legal structure. There are three major ones:1. Sole proprietor, 2. Partnership, and 3. Corporation or Limited Liability Company. All small, home or web based businesses as well as big businesses must choose and register as on of the above. In addition,  Investing  businesses must obtain a business tax registration occupational license receipt. If selling any taxable items,a business must also get a reseller ID number to buy wholesale and sell retail. Finally, if a business is an employer, it needs to get a federal EIN and a State EIN.
   



1. SELECT LLC, DBA, CORP

From sole propr., NJ LLC, NJ partneship or NJ Corp.: Each requires an entity certificate filing.



2. TAX IDs - PERMITS

All Finance, Insurance, And Real Estate   businesses/entities need a business license and an EIN.



3. NJ STATE SALES TAX ID.

Selling/Buying wholesale or retail requires a NJ   seller's permit.


You can choose to be a(n) :

  • Sole Proprietor,
  • LLC,
  • Corporation or
  • Partnership.
    After you decide and select your business entity, you need licensing.



Union Business Tax Registration ( Business License)
All businesses including home, online or mobile BUSINESS need a BUSINESS license because they are BUSINESSES.



A(n) business doing business under an assumed business name in Union 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) business and you give it a trade name such as "Excellence & Associates". You will need to register an assumed business name certificate.

In NJ you need a resale ID ( AKA seller's permit) if you selling touchable items.  (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.


Also keep in mind that employers will need to obtain a federal EIN and a State EIN tax identificattion number. I.e., a NJ Federal Tax Id Number ($29)  and a(n) NJ  State Employer Tax Number  


Instead of filing a fictitious business name DBA Filing (about $49 plus state and legal newspaper publication fees) in Union, Incorporate in NJ  or form a(n) NJ LLC


Filing a DBA is not required if you will set up an LLC or form a Corporation. If you will do business under your first and last legal name you will not need to get a fictitious business name.
Using any language that connotes additional owners in the name of the business makes filing a fictitious business name mandatory.



If you do form an Finance, Insurance, And Real Estate llc or incorporate (about $49 plus state fees for most states) your 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 Union business name. In lieu of recording a Union County trade company name (our filing service fee includes trade name registration and newspaper legal publication for 4 weeks) you can also form a corporation in NJ or form an NJ 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). .
Set up LLC in nj NJ Investing NJ Union
xochipilli SC investing SC Inman
what is an investing llc New Castle Investing DE Wilmington
 



Copyright