Hi, everyone. I'm looking to start a small printing company that also serves the printing industry. I don't
have any equip. yet but was going to startout building capitol brokering rubber stamps and things like
that. Some vendors require an Eim or tax id number. Whats the best way to start out? leagalzoom LLc
package is est. $189-$450. Any advice would be appreciated.
Getting an EIN or Tax ID is a free simple process you can do online with the IRS. Here is the link for that...http://www.irs.gov/businesses/small/article/0,,id=102767,00.html
As far as the LLC to start out. You can certainly do that, but most of the time people start out as a sole proprietor before moving on to an LLC. I don't pretend to know the printing business, but I wouldn't think there is anything that would require an immediate LLC. There are certainly benefits to an LLC. Most notably there is some protection from debt incurred through the business entity. There is NO protection for any personal loans or personal credit cards etc. It needs to be in the business name...goes along with your EIN. Just starting out I would not think you would have much debt incurred under your business. There are many other benefits to an LLC that I will not go into now.
Check and see if it is normal in the printing industry to have an LLC. If you decide to go that way, LegalZoom is good, but I would call around to a local attorney to see what it costs to set one up. Even if it is a little more, the personal touch and service you get now and in the future may be of great value. So, don't just jump at the lowest cost. Find the "value" you need in setting up your business.
One last fleeting thought...if you have a location for your business, make sure you have insurance that covers all the proper apects you will need...Liability, Life (for possible debt), Renters Insurance, Equipment insurance, etc. The may be something that can save you a lot of heart ache.
Hope that helps...
Hi Ryan, I would not worry about setting up an LLC until you are making lots of money. Follow the link Don posted and get your ein/tax id number. Since you will be dealing with taxable items, you will want to contact your state's department of treasury to get your sales tax license. Talk to a CPA to find out what is needed in New Jersey.
It sounds like you have a plan. I hope you have great success!
Have a great day,
I agree with the others here.
We have a host of great startup resources on our new business portal. It is a free site so dig in!
As an aside, we just launched (today) a new member savings program. If you get ready to purchase equipment be sure to check it out. We have a contract for Canon copy equipment (including multi function) with discounts of 40% off retail. It also gives you access to used/referbished equipment at a significant discount.
The site is http://RealBusinessSolutionCenter.com
The link to the IRS is the way to go. You may need to contact your local county for tax purposes. Some states require an ID for that, but the most I have heard of a state charging is $30. You definitely do not have to pay for that package. Good luck!
Thank you all for the great ideas and information. I am going to get things started a little easier than i originally thought. I'm also going to check out http://RealBusinessSolutionCenter.com sounds like a great resource.
Thanks again, i hope to add as much value if not more to this community as I have received.
Congratulations on starting your business! Getting a EIN is extremely easy. You do not need to pay someone to get this. Go here and follow the directions - http://www.irs.gov/businesses/small/article/0,,id=98350,00.html.