Jump to content

Business planning


 Share

Recommended Posts

I've begun planning for the business I aim to open at the beginning of next year. I'm starting by researching legally establishing it and all that entails, and I believe I have my checklist complete. I have never owned a business, worked as a manager, or anything, so this is all foreign to me. I live in Maryland, will be selling online, and will be registering as an LLC.

 

-Register business: location, name, type and structure, register as resident agent, register with MD dept. of assessment and taxation

-Obtain required licensing and permits (seems like my state only requires me to obtain a Trader's license, but I'll be contacting the office of comptroller and will find out exactly what I need)

- register for federal employer ID and tax ID

-Insurance

 

Is there something super apparent that I'm just completely missing? I know this is different in each state.

  • Like 1
Link to comment
Share on other sites

If you are registering LLC, then you are registering your business at state level.  But then, there are local regulations and ordinances to follow also.  If you are only selling online, then LLC should take care of most business filing process.  But what are you selling?  Do you make the products or do you buy them wholesale and sell online?

 

Trader's license is something only MD has.  Like you said, it is different in each state.  But it is also different in each county and each city.  Your local CPA or business attorney(more expensive) should be the one who knows most and can guide you through business filing process for your operation.  Some CPA does business filings for free to get your accounting business.

 

*I see that you have not mentioned about Seller's Permit.  If you make candles, then you might need zoning clearance from City Planning and clearance from Fire Department.  Once again, your local CPA should know the most.

  • Thanks 1
Link to comment
Share on other sites

@BusyBee thank you so much for the reply! I face palmed when I realized I never mentioned that I plan to make and sell candles online. 

I plan on making a couple of calls because I had such a difficult time finding exactly what was required by my county/state. I dug around about 4 different government websites, finding different info on each one about my State, so I do not feel very confident in my checklist, heh. I’m just trying to get all my ducks in a row right away so I know what to budget for and what establishing this business actually looks like legally so I’m prepared. 
I researched obtaining a seller’s permit in my county, but it looked like it is only required for funeral services, which was very confusing to me and I figured I just need to make a phone call to figure out exactly what I need haha. 
I wanted to reach out on here in the mean time for any advice! I appreciate your time and your reply, BusyBee, thank you so much, it was very helpful. 

  • Thumbs Up 1
Link to comment
Share on other sites

If you plan to make and sell candles online and attending few fairs, then most(including insurance company) will consider you as small part time operation.  And you are going to have less hard time registering your business than other candle operation.  But Seller's Permit must be required in any state.  

  • Thanks 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...