Hello All, I am starting a new business in NJ. The concept is to tell customized images on the internet. My question is simple. I am looking to get an LLC just for better protection. Since I am going to be doing business all over the US, would filing an LLC in NJ be enough? Also, any other tips that I need to know to protect myself would be greatly appreciated. Thanks
Hi there - yes, I am also in NJ (Bergen County). I filed mine in January in NJ state and that was sufficient. Just be prepared for tax day - I must have lost 50% of what I made in 2008 due to taxes... and that's after claiming a lot...
The major question is do I really need an LLC. The concept of the business is to sell a customer a custom peice of art work that they design on the website. I get the order, I actually design it, get it printed, and send it to them. I understand the basics of having an LLC, why you need it, etc, but with this type of business, is it 'really' necessary? The entire business is online, I will not open stores, have enployees, or see any customers face to face. I feel filing, or registering the company name might be a waste due to the concept of it. I could be wrong.
It depends..if you want protection from people being able to sue you and take everything you own (bank account, car, house), then you should get an LLC
Always always always do business under another legal entity. You don't want to risk your whole life. LLC's and S-Corps are cheap, so why not?