Friday, August 7, 2009

Finally, News from the State!

Well, it came today--my reply from the State of California. I checked the mail early this morning, and opened it up excitedly! Inside was another form to fill out... Figures. Apparently, once you file your Articles of Organization, you have to fill out a Statement of Information. Essentially, it asks for the filing number of the Articles, and asks you to fill out who the contact people are, the members of your LLC, and the address.

It didn't give me a business number, though, which is what I thought I was really waiting for... I'm also trying to fill out an application for a Seller's Permit, and it's been a bit of a challenge! I'm working my way through the form, and discover that it asks for a series of things I don't have yet... First, I discovered I needed my "Business Number" from the state... Well, after a few phone calls, I learned that LLCs don't actually have business numbers. So I'm supposed to leave that part blank, according to the technicians at the Secretary of State's office...

Second, it's asking for a bank account or a merchants account, of which I have neither. So that's something I need to get. Upon consultation with a friend of mine, the bank account is all I'll need unless I want to pursue Point-of-Purchase sales... And that may come later, but not right yet...

I also got my very very first "tax" form... FTB3522, which is the LLC Tax Voucher form that goes out to everyone who forms an LLC. The tax form says I have to pay $800 for my annual LLC tax. I expected that. That's actually what keeps a lot of people from forming LLC's and instead create Sole Proprietorships. Everything I read, however, suggested that when it comes to attire, it's smarter to create an LLC. Sadly, 99% of most clothing endeavors fail miserably the first time out, so creating one with your own name (if you actually want to be successful in the industry) probably isn't a good idea... So I created an LLC, and since I'm trying to do this on my own, I'm stumbling along figuring out what I'm supposed to do... I know I have to pay taxes, so it's pretty safe that paying the $800 is a given! Haha!

So, in a nutshell, I'm moving up!! It's happening! I have a lot to do, but I'm confident it'll happen.

More later. Until then, live life with relish!

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...