Monday, March 19, 2012

Making It Legal: Follow-up from Week 6

…“IT HAS BEEN OUR PLEASURE TO APPROVE AND PLACE ON RECORD THE ARTICLES OF ORGANIZATION THAT CREATED YOUR LIMITED LIABILITY COMPANY. WE EXTEND OUR BEST WISHES FOR SUCCESS IN YOUR NEW VENTURE.”…

JESSE WHITE
SECRETARY OF STATE
DEPARTMENT OF BUSINESS SERVICES
LIMITED LIABILITY DIVISION


      March 6th 2012 dates the official release of Lisa Fay Design LLC. That was only 4 business days for the state to process it, good thing I didn’t pay extra for the expedited service…totally unnecessary. The next step was to file for my EIN. This identifies you, your business accounts, tax returns, and documents, even if you have no employees. I was able to do this instantly through the IRS website. Once I had my Federal EIN, I filed electronically for the state (Seller' Permit - Sales and Use Tax Registration). You must register with the Illinois Department of Revenue if you conduct business in Illinois, or with Illinois customers.
  
      The next step in paperwork/filing, and hopefully the last for a while, is the Residential Business Occupancy/general business license. The city I live in requires a permit for home-based businesses as well as a fee based upon however many square feet you use for that business. Once this is finished, then it’s on to preparing for prototypes/website.

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