Does anyone here have a website and encorporated? I am considering incorporating my next site that is in development (it's gonna be BIG). Any words of wisdom?
You probably want to incorporate in the state where you and your business reside. That is usually cheapest. If it is going to big as in money you should probably seek legal and tax advice.
Not usually. We're incorporated in Vermont and pay a "To do business" fee to be based out of North Carolina. (And five other states) It was cheaper to do it that way than to incorporate here in NC. Really depends on a number of factors. What type of incorporation, how much business you plan to do, what the tax rates are within the states, etc. Do realize though that if you incorporate, you become known to the government. They will expect you to pay corporate taxes, employment taxes, etc. If this is a small effort which nets you a few extra dollars every month, it may not be worth the effort. This is really a bad place to ask this. Most cities have a SCORE office nearby. May want to give them a call and sit down with one of their reps. Should be free (or they ask for a donation) and would be worth your time.
The key word is usually, but that is also a trap. It is usually less expensive to organize in the state where the business is located because that usually means a single filing in a single state. If you are going to be doing business in more than one state, then it gets more complicated. Because of the differences in filing fees, franchise taxes and fees to qualify to "do business" as a foreign (i.e., out-of-state) corporation, in some cases it will make more sense to incorporate or organize in another state. You also need to consider whether to organize the entity as a corporation or an LLC. That really depends on your specific situation. I often recommend an LLC but when I recently formed a business entity for myself, a regular C corporation made more sense. An answer from anyone who claims to tell you the "right" way to do it without asking a ton of questions has no greater odds of being correct than the answer you would get by simply flipping a coin. SCORE is an excellent resource. Also, most major urban areas have Small Business Development Centers (SBDCs) that are typically connected to local universities or community colleges. Just keep in mind that the SCORE and SBDC advisors are usually not attorneys and cannot give you legal advice. While they can be helpful to help you generally understand the issues, using an experienced business attorney to form a business is usually well worth the typically modest additional cost.
Thanks for all the input. I would love to just go with one state, my home state, but I am in the Navy and am moving every 3 years. Since the business would be run online only, I guess I could get away with using a address back home to run off of. That way whenever I transfer duty stations, it doesn't matter. I'll be looking in to SCORE and also the LLC option.
That's something you need to look into actually. Some states require a physical presence while other states, Vermont and Delaware come to mind, a POBox or PMB is all that is required.
Even if you are in the military you still have a "tax home" state. I would start by checking with that secretary of state's website. You may want to look into an LLC.
You don't incorporate websites you incorporate companies. Look at your state governement's web page and follow links for "businesses".
You can also have a "registered agent" who can accept mail for your corporation in your state of incorporation. I live in PA but am incorporated in DE and have a registered agent there so that I meet the address requirements.
As i am just starting out also i purchased a sole proprietor license. if things start getting bigger i not only have to incorporate but also find lawyers and accountants. so for starters just get a regular licence
Just google for your various states Corporation registration page. For instance in Wisconsin google "incorporation wisconsin" Result: http://www.wisconsin.gov/state/byb/corporation.html The State of Wisconsin Corporation page. Costs vary from state to state. You may also choose to register out of state. Delaware is the most popular state for this purpose. Finally it would make sense to talk to you accountant so you can figure out what type of corporation would suit you best in terms of how you will do business and what your tax classification will be. Good luck.