Have you registered your online business / work ?

Hello all,
Don't know if someone has pointed out this / posted this before.

Just wondering, I see many of us here have online business ( companies / freelance source you may say ) like abcd designs , xyz coders etc.

What I want to ask, as its business related, have you registered your company ( of course if you are serious about running it for long term : fingers crossed for everyone ) with some legal body ?

Any experiences you want to share ? Any suggestions etc ?

Thanks for reading.

Regards,
CB

 

I'd recommend registering as a LLC. It's pretty much the most basic type of business you can register in the US. Personally, I was looking at LegalZoom.com to register my LLC, as they have some decent prices, and even have options to add on for tax paperwork and such. If you do a search though, there are other similar sites out there that can do the same thing for similar prices.

 

I still haven't registered my online business yet, and I am enjoying the time that I never need to pay tax.

 

Yes i have registered all my online business and every years pay few thousand of tax.
If you do not register your business,then you'll face problem when checking out by authorities.

 

Thanks for replies guys, I did considered it as an important issue.
So thought would get some advice here.

phprightnow & Mentos can you link me the websites from where you have registered ?
and what is LLC ?

by the way, I stay in India, so is it better to register it with Indian law companies / US based law companies etc ??

Regards,
CB

 

Hey, I haven't registered as an LLC yet, but I will be doing so this year. As far as Indian law, you'd have to check with you local government, assuming you are going to be paying taxes to the Indian government and not the US. I don't think you can register as an US LLC without being a resident of the US. I believe India the closest thing to a limited liability company is an LLP (see sites like llponline.in, companyindia.co.in, are a few I found on google). Anyway, hope this helps. Best thing to always do is consult an actual registered attorney or accountant on the issue.

Regards

 

its probably a good idea

 

Thanks for the replies friends.
will just clear it, I live in India.

Gotta have to check what's all this with Indian Govt. but if anyone over there has any idea about Indian Govt on this issue please let me know as well in PM / post here.

Thanks again for the replies guys, MODS please do not close this topic, as I am seeking a few more replies ( possibly from Indian members as well ).

Regards,
CB

 

In India, it cost around 12,000 INR to register an LLC

 

Hi,

Yes. I have registered my online business in my country.

I have my business partner in USA so can I register my online business in USA?

I will really appreciate any help and suggestions.

Regards
TS

 

Havent registered yet too. Was actually looking to register a company but wasant aware of all the requirements. Spoke to a friend who's working as assistant to a tax consultant. He said that you need a bank account on the name of the company and a solvency fund of 50,000/-. Looking for a solution in this thread.

 

Thanks for the replies guys, Reps added to the helpers .
Lets see what others have to say.

 

I don't think you need to register your business if it's not making any real income.

 

Not sure how it works in the US, but over in the UK if you're looking to take your business to a serious level (i.e. beyond sitting in front of the PC at home and working occasionally) - then registering your business is a good idea (or in some cases a must.) However it all boils down to how much you're earning, and to what scale you're working at. If you're working on larger projects involving bigger money and higher risk, registering as a limited company may preferable so to prevent any risk to your personal possessions (i.e. separating the responsibility off the business from yourself - the business being it's own entity.)
Also whether or not your dealing with physical stock, or whether it's a serviced based business - and whether or not capital is required to drive the business/products or whether it is a matter of creating a demand - this is where you may consider to go plc etc.

By UK law, individuals earning over a certain amount each year must declare their earnings and in some situations register their VAT (which can usually be claimed at the end of the year) - if someone is serious about their business and is looking to make a real earning off it, making sure you're within the boundaries of tax laws etc is crucial, not declaring earnings which exceed the given limits could land you in a lot of trouble, and could also damage the success of your business- so it's a good idea to research well into what's involved and what responsibility you hold in such a position.

Please correct me if I'm wrong anywhere there, to my knowledge that is all correct!

 

Not Yet! But looking to register soon because free lancing stuff slowed down from recent 5~6 months! thats why need any potential site to have some business

 

I think your best bet is to register as a sole trader (Self employment) and just go with a branding

All legal without the hassle of having a comany registered with companies house.

 

We're incorporated, board of directors, stocks, taxes, attorney on speed dial, annual stockholders meeting at a howard johnson, the whole nine yards.

 

I know that in the US a registered bank account under your business name is required for an LLC or any other type of corporation.

Regards