WEB Do I need to get an LLC?

Discussion in 'OT Technology' started by AnoesisX, Feb 11, 2009.

  1. AnoesisX

    AnoesisX New Member

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    I'm starting a website and their will be ad space (sponsors) and a donation page. Do i need to get a set up an llc and get a small business bank account.

    note: I'm not selling any service or product.
     
  2. hank85

    hank85 sudo shred /dev/sda -f -v -z --iterations=6

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    Nope, sole proprietorship will work fine. Use personal banking info and SSN for Tax ID.
     
  3. AnoesisX

    AnoesisX New Member

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    What about if I hold a contest? Winner gets money or something (Maybe from a sponsor or me personally)
     
  4. SLED

    SLED build an idiot proof device and someone else will

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    need? no. smart to have an llc or s-corp for protection? yes. keep in mind you'll have to pay incorporation fees, different taxes, etc. best to hire a CPA
     
  5. JesterFX

    JesterFX New Member

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    do you think you will be grossing more than $600 a year from it?
     
  6. nashstradamus

    nashstradamus New Member

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    i run web marketing firm and this was a must...

    and llc protects you from most types of liability

    most states make u pay $50 to $100 up front and a yearly fee... my state is $300/yr

    if you don't have much income from it it probably wont be a problem

    you will have to report the income on your personal taxes
     
  7. ge0

    ge0 New Member

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    NJ its free for a llc
     
  8. AnoesisX

    AnoesisX New Member

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    Hopefully
     
  9. hank85

    hank85 sudo shred /dev/sda -f -v -z --iterations=6

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    Check out the laws on S-Corp and LLC in your state if you plan to pursue this as a legitimate business. If you're just messing around with it for now, like I said earlier, sole proprietorship should be ok.
     

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