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smithlaw1177
smithlaw1177, Attorney
Category: Business Law
Satisfied Customers: 151
Experience:  My practice handles all sorts of business law issues such as setting up corporations, LLCs, PC, as well as dissolving corps.
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I am providing services as a business intermediary (finder)

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I am providing services as a business intermediary (finder) and would like to use an assumed name (as sole proprietor) until I close my first transaction, after which time, I will incorporate. The company I will be providing services to is located on Long Island (where I am physically located) except that I will be marketing to people all over the country on behalf of the client to find people who want to open a branch office. Is is acceptable to file a dba in the county in which I am located without concern of filing elsewhere? I personally won't be doing any transactions across state lines. My role is to market to those who might be interested in becoming a branch operator for my client, and bringing the parties together for a possible transaction. This isn't a franchise or the sale of a business, just the license for someone to operate as a branch. I assume as a sole proprietor dba nothing needs to be filed with the state. Thank you in advance.
Submitted: 2 years ago.
Category: Business Law
Expert:  smithlaw1177 replied 2 years ago.

smithlaw1177 :

Hello I can help you with this matter

smithlaw1177 :

You are correct in your assumption that a sole proprietorship does not need to be filed. However, I would suggest that you incorporate so that you are shielded personally from any liabilty. Also you may incorporate in your state and still do business in other states. You do not have to incorporate in those other states if you are simply contacting others to conduct business even if they are in different states.

smithlaw1177 :

I highly suggest that you incorporate through the Secretary of State and then have your CPA elect to treat you as a subchapter S corporation so that you can enjoy pass-through taxation. in other words you wont have to pay personal and corporate tax. S-Corps also enjoy limited liability so you will be shielded personally from liabilty. Remember Uncle Sam has to get his cut so applying for a federal employer id number as a sole prop. and then converting to an s-corp is difficult to do. Something tho think about!

smithlaw1177 :


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Customer:

thank you for your reply. in my case, is it better to have an llc or sub s?

smithlaw1177 :

I absolutely ALWAYS like the s-corp over an LLC simply becasue my CPA that I work very closely with in my practice is a firm believer in an s-corp over and LLC. At the present time LLC must pay a higher social security tax on its employees than an s-corp does.

smithlaw1177, Attorney
Category: Business Law
Satisfied Customers: 151
Experience: My practice handles all sorts of business law issues such as setting up corporations, LLCs, PC, as well as dissolving corps.
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