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Starting an online business in Wyoming? |
My mother in law wants to start an online business selling her crafts. We have two ways of going about this. We could sell on eBay or Etsy.com or something or I could design a website for her and she could sell through that. Either way, we're wondering what she needs to do to be legal. Does she have to form a business with a name and everything like an S-Corp, or an LLC or something? Are there any websites that give checklists of what we need to do for Wyoming? You do not need an S-corp or a LLC to start a business. The only thing you need to do to make sure it is legal is pay taxes. Any sales tax gets paid to the state. Also report income over $400 as Self-Employed on your state and federal income tax return. You will then have to pay SE tax which is your social security, medicaid, ect usually around 20% You can start an online business from anywhere...You can infact be anywhere and make substantial amount of money. I would recommend getting involved with any good direct sales or network marketing company. Reason being, there business have low capital and are easy to operate. eing focused and committed could really bring you to a substantial and residual income a month. She will need to go to the county clerks office and fill out a dba form. take those papers go to the bank and open an account. thats it ....oh yeah make sure she file's her taxes and when it comes time to build your site check out http://www.firstinforeview.com they give you free information on how to start an internet business, and free ways to promote and advertise your new site. |
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