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a copmany
Author
I read somewhere once that you can start a company simply by syaing that you''re a copmany. Is this true? I know that if it, there''s probably alot of limitations on what we can, but we need to register a domain in our copmany name, but we haven''t actually file with the state yet. is this ok? Thanks.
-AJ
This varies greatly from country to country.
In Canada, e.g., you can just declare yourself as a company at anytime, however this company would not be treated as a ''separate entity'' from you, unless you incorporate etc.
In Canada, e.g., you can just declare yourself as a company at anytime, however this company would not be treated as a ''separate entity'' from you, unless you incorporate etc.
In most states in the US, you can start a ''company'' just by saying so. I believe this defaults to a ''sole propriatorship.''
You don''t get any special tax status for this, though. So if you expect to ever make any money, and especially if you''re buying things for the company, you need to file.
You also are not allowed to use certain phrases or abbeviations in your company name without filing the right papers. These are Incorporated, LLC, Ltd, and a few others.
Also, if you pay an employee anything, or buy him/her any equipment or software, you will probably need to be set up to pay payroll taxes, which requires a tax id, sending W2''s, etc.
You don''t get any special tax status for this, though. So if you expect to ever make any money, and especially if you''re buying things for the company, you need to file.
You also are not allowed to use certain phrases or abbeviations in your company name without filing the right papers. These are Incorporated, LLC, Ltd, and a few others.
Also, if you pay an employee anything, or buy him/her any equipment or software, you will probably need to be set up to pay payroll taxes, which requires a tax id, sending W2''s, etc.
There is a difference between starting a company and going into business. You can go into business and trade under any name you want but that does not make you a company and it does not give you any of the legal protections that a company provides. If anything goes wrong you may be personally liable for any debts etc. You should talk to an accountant to find out if you really need to register a company or not at this stage.
Dan Marchant
Obscure Productions
Dan Marchant
Obscure Productions
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