Question:

What licenses are needed to start up a new clothing company?

by  |  earlier

0 LIKES UnLike

what license for store and what does a LLC do?

 Tags:

   Report

1 ANSWERS


  1. I believe it's the same process as starting any other business.

    Business license, tax ID, etc.

    An LLC is a Limited Liability Company. A type of company, authorized only in certain states, whose owners and managers receive the limited liability and (usually) tax benefits of an S Corporation without having to conform to the S corporation restrictions

    You might want to go with Sole Proprietorship, which is a business structure in which an individual and his/her company are considered a single entity for tax and liability purposes. A sole proprietorship is a company which is not registered with the state as a limited liability company or corporation. The owner does not pay income tax separately for the company, but he/she reports business income or losses on his/her individual income tax return. The owner is inseparable from the sole proprietorship, so he/she is liable for any business debts.

    Being a sole proprietor will give you all rights (good and bad) of your company.  

Question Stats

Latest activity: earlier.
This question has 1 answers.

BECOME A GUIDE

Share your knowledge and help people by answering questions.