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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 want to open a retail business in Indiana. What is the appropriate

Resolved Question:

I want to open a retail business in Indiana. What is the appropriate license to get to do this?
Submitted: 4 years ago.
Category: Business Law
Expert:  smithlaw1177 replied 4 years ago.

smithlaw1177 :

Hello I can help you with this question

smithlaw1177 :

First you must decide what kind of business to form. I would suggest that you reigster your business as a Limitied Liability Corporation through your Secretary of States Office. If you are registered as a LLC then you are shielded from personal liability if something were to happen at your business. LLC's can be set up without an attorney. You will need to purchase a business license in the city in which you are located at the City Clerks office and you will also need to purchase a state business license from the local Probale Judge.

Customer:

It will be ran by me and my wife. Is there any federal license requirements for an LLC?

Customer:

Is there a tax advantage to an LLC versus a sole propriator?

smithlaw1177 :

no federal license but you do ned to obtain a Federal Employer Id Number through IRS. LLCs enjoy passthrough taxation meaning the members pay tax on the income the LLC makes. You do not have to file separate for the LLC. YOU NEED TO UTILIZE THE LLC. You need to be shielded from liability just in case someone has an accident at the store or something like that.

smithlaw1177 :


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