Legal Question in Business Law in Maryland

In the state of Maryland I would like to start a business to sell new and used goods. The used goods will be obtained through donations and resold to the public. What is the best business entity non-profit or for profit to establish for this type of business. The goal is to provide goods they I believe people want and need and to be profitable.


Asked on 1/06/12, 10:06 pm

1 Answer from Attorneys
Cedulie Laumann Arden Law Firm, LLC

Hello and thanks for your post. A "non profit" or tax-exempt organization is only available if you have some charitable purpose. Among other things, the earnings of a non-profit cannot go to benefit any individual and a non-profit does not have owners / stockholders. Rather, a non-profit is run by a board and must comply with various rules in its governance and administration. An online post cannot fully analyze everything needed to help get a new business started and one is well advised to obtain both legal and accounting advice. You are welcome to contact my firm at 410-216-7000 for a no cost phone consult of up to 10 minutes on business formation matters or contact another Maryland barred attorney of your choosing.

While this post does not make you a client or offer specific legal advice I hope that the general information helps answer your question.

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Answered on 1/09/12, 5:51 am


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