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  • #16
    Quote[/b] (Team Gopher @ Feb. 24 2007,8:15)]Then, company interests are sold (like shares in a corporation). The people who buy the interests are called members. Unless the members agree otherwise, control of the business is distributed according to how much money each member has invested.
    Ths is the part that I do not understand.

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    • #17
      See one of the benefits of being a corporation is that you can have shareholders and sell shares. If you are doing this all on your own, you would own all the shares and be the sole shareholder.

      Quote[/b] ]Unless the members agree otherwise, control of the business is distributed according to how much money each member has invested.
      This means control of the business (unless you create another way to handle things) is done based on how much each person invested.

      So for instance, say you and I start this LLC. I put in $6000 and you put in $4000, I would own 60% of the company.

      Does that help?


      If you are the sole investor, you are then the sole owner and control 100% of the company.
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      • #18
        That makes sense but what about the tax requirements?

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        • #19
          Well see one of the reasons why a lot of new lawn care operators go the route of dba is because they use their social security number as their tax i.d. They file their taxes as they always do but add the income from their business and show their expenses etc.

          When you go the route of llc or s-corp you get a tax id for that new legal entity you have created which is your business corp.

          You have to file additional taxes for that entity. It's a little more time consuming and expensive. Taxes as you know are complicated and each state is different. These are just some basics so what you could do is talk to your accountant and ask what they advise as far as this goes.

          But at least this gives you some basics.
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          • #20
            Thanks!

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            • #21
              Keep us posted as to how everything is going.
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              • #22
                You will not go wrong by having all necessary licenses, permits, and insurance for all aspects of your enterprise. Murphy's law will hunt you down if you don't....

                Its all money well spent in the long run. Makes you legitimate in the eyes of the customer and gives you peace of mind knowing you are doing everything the right way.

                Not sure if sole proprietor or LLC, or INC is right for you. Good rule of thumb is once you reach a point when you think you have alot to lose, tangible and intangible, look into incorporation in its various incarnations.

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                • #23
                  Quote[/b] ]Not sure if sole proprietor or LLC, or INC is right for you. Good rule of thumb is once you reach a point when you think you have alot to lose, tangible and intangible, look into incorporation in its various incarnations.
                  I think that was very well said and a great way to look at it.
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                  • #24
                    Do I need to charge sales tax on the jobs?

                    I believe that I will go with sole proprietor this year and maybe change in the future.

                    If I go this route, will I still need to apply for a federal employer ID #?

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                    • #25
                      Quote[/b] ]I believe that I will go with sole proprietor this year and maybe change in the future.

                      If I go this route, will I still need to apply for a federal employer ID #?
                      As far as I know, I you don't have any employees then no you don't need a fed employer id #.

                      Quote[/b] ]Do I need to charge sales tax on the jobs?
                      You may or may not depending on the type of job or service you offer. Here is information on how to get your sales tax license. This isn't a big deal either.

                      http://tax.ohio.gov/divisions/sales_and_use/index.stm

                      A local tax professional should be able to tell you what you will need or not need to charge sales tax on. This differs by state and by city even!
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                      • #26
                        Well I have yet to decide with DBS or LLC but I did go out and purchase a brand new Exmark 36" WB today.

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                        • #27
                          Any thoughts on what made you choose that one? What other equipment are you using now?

                          Did you take any pics of your new mower you could share with us?
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                          • #28
                            Price & reputation. I also have a 44" Cub Cadet ZTR, 6.5' x 12' trailer, 99 Chevy Silverado Ext Cab Z71, misc. trimmers, blower, ect.. No I do not have any pics but I will try and get some up.

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                            • #29
                              I think this is going to be a big year for you

                              I would love to see your equipment pics when you get them.
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                              • #30
                                This is helpful info for me I have been doing my Lawn care service for a couple of years..Nothing big, but now I'm really looking to go BIG glad I found this forum Thanks for all U'r help.. I have been doing my pricing by the job and not by the hour..Question to anyone out there whats the best way to charge and how do U come to a Price that don't kill the customer but provides enough pay for labor,fuel,milage,ect.

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