Legal Question in Business Law in Indiana

Re: How do i get started

It depends on what you are doing. If you are setting up a dba (doing business as) then you need to publish the name you will be using and get a license from the city you are in. You will need to get a tax ID number from the IRS and the state. You can set up a corporation or limited liability company. There are several choices. Good luck.

Michael Cortson

Re: How do i get started

You may first wish to consult with a CPA in regard to financial ramifications. The CPA would be able to first give you insight as to proper capitalization of the venture as well as steps which you may need to consider taking after you have discussed your business goals.

You may wish to consider incorporating your business. One of the important reasons for doing so is to protect yourself from personal liability.

By incorporating you will have created a legal entitiy. This limits liability to it in regrd to it's business activity so long as it is not used as a means to defraud others.

There are different types of corporations depending on it's size, goals and other factors.

In the case of the small business, many choose to incorporate and then seek a sub S classification from the IRS. This basically means that money earned passes through to you without the business being taxed as would other types of corporations.

This is also sought where the number of people who will own the business are few in number or maybe just one individual. This may be changed over time depending on the business evolution of the company.

The incorporation will be filed with the Secretary of State's office in the state in which you wish to incorporate followed by obtaining a federal tax ID number from the IRS as well as application for sub S status should that be your desire.

If you wish to discuss this further, please contact my office at 317 686-0000 to set an appointment to do so. We may then discuss this in greater detail in assisting you with your objective.