Home | Community | Message Board


This site includes paid links. Please support our sponsors.


Welcome to the Shroomery Message Board! You are experiencing a small sample of what the site has to offer. Please login or register to post messages and view our exclusive members-only content. You'll gain access to additional forums, file attachments, board customizations, encrypted private messages, and much more!

Shop: Kraken Kratom Red Vein Kratom   North Spore Cultivation Supplies   PhytoExtractum Buy Bali Kratom Powder   Bridgetown Botanicals Bridgetown Botanicals

Jump to first unread post Pages: 1
OfflineYoschie99
nomad
Male


Registered: 11/24/99
Posts: 3,149
Loc: center of earth
Last seen: 2 months, 17 days
starting an LLC...
    #7840232 - 01/06/08 04:03 PM (16 years, 26 days ago)

So, in the past year or so I've had serious business plans running through my head... from production company/sound system to retail space to online business to vehicle wholesales... a lot of crazy ideas... but, all also feasible to put together in the next 1-3 years.

So, where does one start when starting a business? or multiple businesses?

Right now, I'm basically reading around online and filling out the "Adam's Easy LLC" registration CD-ROM info. I know it's going to be a few months involved process putting together the initial business plans, filing for a tax number, registering the name, etc, etc... but, other those early steps, i'm not really sure what to do.

What I know so far:

- I need to find out what the benefits are of registering the company(or companies) in my own state, a state i'll be doing business heavily in, or somewhere like Nevada or Delaware which are the most popular.

- I need to determine my realistic amount of start-up capital for each small business that I'm planning, and what my options for outside financing are; i.e., small business loans, investors, etc, etc.

- I need to set up at least one primary business account, and quite possibly seek the help of a professional accountant/financial advisor type.. either through my bank or elsewhere.

- I need to figure out the benefits of several ways of structuring my endevours: One LLC w/ many smaller companies registered beneath it; Several larger LLCs registered, w/ several smaller companies under each, more specified by service provided; or each endevour registered on it's own...

- To take on partners initially, or not.

The basic areas that I would like to get set up in first are:

-Transportation and sales of foreclosed/seized vehicles from one state to another. Including cars, box trucks, RVs, etc.

- Import of hand stitched goods from oversees, used in the making of domestic clothing and sold on it's own.

- A production company focused on throwing several events a year, bridging live music w/ electronic music culture. Also involved with promoting for other larger companies or sister companies. Would also own it's own sound equipment and light equipment, available for renting for outside events. Possibly own it's own large venue, as well.

So, that's the general idea of what i'm trying to tackle right now..

Does anyone have any suggestions on the best laid plan of attack?

Thanks..

yos-


Extras: Filter Print Post Top
InvisibleRandalFlagg
Stranger

Registered: 06/15/02
Posts: 15,608
Re: starting an LLC... [Re: Yoschie99]
    #7841782 - 01/06/08 10:43 PM (16 years, 26 days ago)

Quote:

Yoschie99 said:
-Transportation and sales of foreclosed/seized vehicles from one state to another. Including cars, box trucks, RVs, etc.





One thing to think about with this is that there are limits on how many vehicles you can sell a year in some states without a dealership license. Zippoz/Capitalistic Nomad ran into this problem in Illinois when he was doing veggie oil conversions and re-selling the vehicles.


Extras: Filter Print Post Top
InvisibleZippoZM
Knomadic
 User Gallery


Registered: 06/17/03
Posts: 13,227
Loc: Pongyang, North Korea
Re: starting an LLC... [Re: RandalFlagg]
    #7847966 - 01/08/08 01:30 PM (16 years, 24 days ago)

as for the number of vehicles you can sell in a single state, most are 5 per yaer, some are 3... usually i title vehciles in other states and in other peoples names to avoid this, as getting a dealership license is a pain in the ass unless you actually want to open up a shop.

as for opening up a corporation, the main advantage is legal protection. if someone sues your llc, they cant get at your personal assets, and vise versa. it creates what is refered to as the Corporate Veil.

as for where to incorporate, deleware used to have somthing called a deleware corporation, and they still do. but all in all, any other states LLC is pretty much the same thing.

nevada is a nice place to incorporate a business, thats where i opened up my LLC. the waived personal income tax is nice, but realistically you actually have to be doing some business in the state you are incorporated in to stand up to any tax and or legal scrutiny.

if you would like to chat about any of these matters, im all ears, you have my aim name, and i think my phone number as well. if you dont have it you can get it from OMR or BOm.

peace
Zip


--------------------
PEACE

:mushroom2:zippoz:mushroom2:



"in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption"

"People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."


Extras: Filter Print Post Top
InvisibleShroom Empire
Myco Matrix
Male User Gallery


Folding@home Statistics
Registered: 12/26/07
Posts: 1,365
Loc: Plugged In
Re: starting an LLC... [Re: ZippoZ]
    #7848472 - 01/08/08 03:13 PM (16 years, 24 days ago)

Incorporate Time

Your One Stop Shop for everything Corporate!


Extras: Filter Print Post Top
InvisibleZippoZM
Knomadic
 User Gallery


Registered: 06/17/03
Posts: 13,227
Loc: Pongyang, North Korea
Re: starting an LLC... [Re: Shroom Empire]
    #7854521 - 01/09/08 04:01 PM (16 years, 23 days ago)

also, honestly, if youre going to incorporate a legitimate business, you are going to have legal problems at some point, and are going to need a lawyer. While sites like legalzoom.com offer low budget incorporation, they will leave you swinging in the breeze when you have a complex question.

if youre going to incorporate, shop around for a lawyer to handle your legal needs, and start a business relationship with him, and have him manage your incorporation, and also be your Resident agent.


--------------------
PEACE

:mushroom2:zippoz:mushroom2:



"in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption"

"People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."


Extras: Filter Print Post Top
Jump to top Pages: 1

Shop: Kraken Kratom Red Vein Kratom   North Spore Cultivation Supplies   PhytoExtractum Buy Bali Kratom Powder   Bridgetown Botanicals Bridgetown Botanicals


Similar ThreadsPosterViewsRepliesLast post
* if the irs puts a lien on a limited liability company GetTheFuckOut 1,315 11 02/26/10 11:20 AM
by NobodyCares
* Im going into business
( 1 2 all )
wildernessjunkie 1,973 21 12/03/11 12:23 AM
by wildernessjunkie
* Starting an IT Contracting Business on the side - what do I need? wiggles 1,207 4 02/24/09 11:05 AM
by geokills
* Small business start up advice Grzyby 584 1 12/26/09 11:05 AM
by myco99
* This just in: The Fed pulled a ninja rate cut of another 0.75% Asante 1,553 10 10/08/08 09:21 AM
by Veritas
* Successful hedge fund manager quits, calls for legalization of weed phi1618 1,023 6 10/18/08 03:07 PM
by Luddite
* "Basically, a Giant Ponzi Scheme" LunarEclipse 864 2 12/12/08 10:26 AM
by LunarEclipse
* Info on Credit Card Processing Evets 313 0 03/20/09 08:00 PM
by Evets

Extra information
You cannot start new topics / You cannot reply to topics
HTML is disabled / BBCode is enabled
Moderator: geokills, automan
1,202 topic views. 0 members, 1 guests and 1 web crawlers are browsing this forum.
[ Show Images Only | Sort by Score | Print Topic ]
Search this thread:

Copyright 1997-2024 Mind Media. Some rights reserved.

Generated in 0.022 seconds spending 0.004 seconds on 12 queries.