October 23, 2015

This week we learned about business structures, licenses and taxes.  It was easy for me to choose the LLC structure since we already have one in place.  Since we are not selling anything at this time, we don’t need a license for sales tax collection and reporting.  In the future, if I need one, I just go down to the local county office and get the paper work needed and turn it in.  Local taxes are to be reported quarterly unless your sales are small enough you can get an exemption to turn it in annually.

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