Even if it is a home based business operated from home online having an internet website, it will need licenses such as a business license and a DBA to register the business name as well as other tax IDs such as a seller’s permit id if it sells taxable items. TX or form an TX LLC (starts $49 plus state fee for most states & includes bylaws and LLC operating agreement).Ī home business needs all licensing as any other type of business. Instead of filing a Collin County fictitious business name (our service fee includes dba business name filing and legal paper publication) you can elect to incorporate in It will help you avoid legal and financial personal liability arising out of business transactions and you will not have to register the Frisco business name. If you do form an Home And Garden llc or incorporate (about $49 plus state fees for most states) your Home Inventory business instead of just filing a fictitious business name (dba), Finally, even one person, sole owner/proprietors working from home or just online can form a LLC or incorporate, in which case, they will not need to file a DBA. However, you will still need other registrations, such as licenses, an assumed business name DBA, and tax IDs as described above. You can also obtain a federal tax ID as a Home inventory sole proprietor and use it as a business tax ID in the place of a social security number. Other instances that you will need a federal tax ID are: if you are a partnership, an independent contractor, and a corporation or an LLC. If you are hiring workers anytime soon, you will need a Federal EIN and a State EIN (employer identification number).
For instance, your name is John Doe, and you do business as Best Home inventory By John, the name must be registered with a DBA Biz Name because it is not your full legal name.Īlso, note that whatever item that you sell or lease and it is an item that can be touched (i.e., tangible such as equipment, toys, merchandise, electronics, prepared food) requires a state sales tax ID ( Sellers Permit ) to either buy or sell the items or products wholesale and or sell them retail. If your trade name is a business name other than your full personal legal name, you will need to file a DBA. Legal Structure Whether an Home inventory online, home, store, concession stand or a mobile cart, you will need to first select among sole owner/proprietor, partnership, LLC or corporation, all of which also require a General Business License (not a specific license to your type of business) as well.