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Barbara Weltman
Barbara Weltman
Barbara Weltman is an attorney, prolific author with such titles as "J.K. Lasser's Small Business Taxes and The Complete Idiot's Guide to Starting a Home-Based Business," and trusted professional advocate for small businesses and entrepreneurs. She is also the publisher of "Idea of the Day(R)" and monthly e-newsletter "Big Ideas for Small Business(R)" at BarbaraWeltman.com and host of "Build Your Business" radio. Follow her on Twitter: @BigIdeas4SB.

One thought on “Should Online Sellers Incorporate?”

  1. BE CAREFUL ABOUT “Franchise Taxes” often applied to corporations that are not applied to other types of organizations. ESPECIALLY IN CALIFORNIA.

    We are a “full C corporation” located on the East Coast. Years ago, when we were regularly attending trade shows in California, we were repeatedly obtaining temporary sales tax permits — it was a big hassle. So, I foolishly signed up for a permanent number. The next thing I know I got a bill for $1500 (that is my recollection at least) simply because we were a corporation. We had to pay the tax, but we also NEVER WENT BACK TO THAT STATE! So, they got their money in the short term, but they and California in general lost out of a much larger amount of revenue.

    Our own state does not have a business inventory tax, but instead they have a franchise tax based. We have to pay $2400 per year simply because we are a corporation.

    BE CAREFUL. Discuss with your CPA/tax AND legal advisers (don’t just depend upon one type of adviser to know the other area) ALL the ramifications of becoming a corporation or any other type of business entity.

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