Ask Experts Questions for FREE Help !
Ask
    omega_red_08's Avatar
    omega_red_08 Posts: 110, Reputation: 3
    Junior Member
    		  
    #1

    Jul 22, 2009, 06:15 AM
    Incorporate Myself
    I've been thinking about starting my own business. I've checked the Secretary of State's website for information on incorporating myself but no one there has been able to talk in a way that I can understand them. I've even went to legalzoom to try and get the necessary forms but it has stock certificates and other stuff I don't think I need.

    My question is this: If I want to incorporate myself what am I required to do in the state of North Carolina? It's just going to be me and I'm going to work temporarily out of my home. Do I need the stock certificates and such?
    tickle's Avatar
    tickle Posts: 23,796, Reputation: 2674
    Expert
    		  
    #2

    Jul 22, 2009, 06:37 AM

    Why do you feel you have to incorporate yourself for a small business from your home ? There is some expense involved in doing so. Just get a business license at first to see how successful you are.

    Tick
    omega_red_08's Avatar
    omega_red_08 Posts: 110, Reputation: 3
    Junior Member
    		  
    #3

    Jul 22, 2009, 06:49 AM

    I hadn't really thought about a business license. Every professional I have asked said to incorporate myself.
    tickle's Avatar
    tickle Posts: 23,796, Reputation: 2674
    Expert
    		  
    #4

    Jul 22, 2009, 07:02 AM

    My husband incorporated years ago because he new from the start his volume of business and income was going to, and did, expand immediately. I have had a couple of small home based business and didn't incorporate but got all the necessary licensing because I had invoicing to do and had to charge appropriate taxes here in Ontario.

    Disadvantage is when you incorporate your small business, you'll have to file two tax returns each year, one for your personal income, and one for the corporation. This, of course, will mean increased accounting fees. Unlike a sole proprietorship or partnership, corporate losses can't be deducted from the personal income of the owner.



    Tick
    omega_red_08's Avatar
    omega_red_08 Posts: 110, Reputation: 3
    Junior Member
    		  
    #5

    Jul 23, 2009, 12:01 PM

    Where exactly do I go to get a business license? I've heard the local tax office and the chamber of commerce. I can't find anything on my local or state websites.
    tickle's Avatar
    tickle Posts: 23,796, Reputation: 2674
    Expert
    		  
    #6

    Jul 23, 2009, 01:22 PM

    You were on the right track. This information is from the website 'myownbusiness.org'

    Where do I go to get a license?
    The best place to start is your local city hall or courthouse. See the city clerk, who should be able to direct you. You can also phone the city or county clerk's office with questions, or look in your local phone book under municipal government offices. Try a search online for "Your city hall" on Google or Yahoo local searches to find the Web site for your local city hall.

    Business License, Permits, and Business Names - How to get a business license

    Tick
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Can I incorporate in another state than I'm physically in? [ 4 Answers ]

I'm interested in opening up an internet co and don't want to collect sales taxes in ny so I was curious if it made sense to incorporate in pensylvania?

Incorporate or not [ 3 Answers ]

Hey, Ive been giving some thought to incorporating my small business or Nichols Trim and Carpentry. We've been in business for over 10yrs and have grown a lot here in the last 3. Before most of our work consisted of just word of mouth but has now grown to the point that I have contracts with large...

When should you incorporate your business [ 1 Answers ]

I have an idea of a business that I'd like to start. I need to know what criteria I should use to decide whether to set up a corporation; whether it be an s-corp, LLC, and so forth. Mainly my question is under what circumstance would a person need or want to set up a corporation. Thank you, ...

OPT to H1B -- How do I incorporate this in my tax returns? [ 3 Answers ]

For calendar year 2005, I have changed status from F-1 on OPT to H1B Work Visa Status. How does this affect the filing of my tax returns? On F-1, I was exempt from FICA but on H1B I became non-exempt. How do I incorporate both on my tax returns?

Should I Incorporate? [ 3 Answers ]

I'm planning on working for Fedex as a contract home delivery driver. As such, I will have to buy a van and pay my own taxes and operating expenses. Is it best for me to incorporate, or should I just work as a sole proprietor? I live in California.. My wife works also and makes a good income so I'm...

View more questions Search