I'd also like to know if there is a difference between a DBA and a business license or are they the same. I am looking to start a business as a headhunter this coming year. There is so much advertisement on the internet; it's gets confusing what to do first.
2006-12-31 16:00:05 · 5 answers · asked by Angela 2 in Business & Finance ➔ Small Business
DBA is "doing business as".
so you form your company (S, C, LLC, LLP) and it can have a name, like "hogans heroes LLC". Then you can DBA as say "Headhunters of America". So people would know you as "headhunters of America" but you business filings would be "hogans heroes DBA headhunters of America" It allows you to have a different corp name from you public name. Usually people who own a Franchise have a DBA. Like "joe blow DBA McDonalds" That way they can cash checks etc.
Inc is incorporated.
There are many times of Incorporation's.
C Corp. Is what most people think of, Share holders even if it's only one, meetings and minutes, separate entity, Liability protection, Very formal very structured. You would Draw a Salary. The C corp pays it's own taxes and you pay on your Salary.
S corp. Almost exactly like a C corp but with pass through Tax status. So The taxes for the company are paid by the holder(s) as a percentage of ownership. All profits/loss are passed through as a percentage of ownership and each pays taxes on their part.
LLC Is a limited liability corp. This has pass through tax status and Liability protection like a S and C. It is far simpler then a C or S as in no meeting, minutes, etc. Much less structure to deal with.
LLP limited liability partner ship. Even more simple than an LLC, providing Liability protection.
Now there is a sole proprietor classification with liability protection, very simple.
There is much more to each of these, this is just a simple overview.
2006-12-31 16:17:47 · answer #1 · answered by hogie0101 4 · 0⤊ 0⤋
The content of your question doesn't match your subject. If you go to the first link, that compares the similarities and differences between an LLC and being Incorporated.
For information regarding operating as a DBA, go to the second link.
It appears that you would most likely need a business license to operate under a DBA.
2006-12-31 16:21:04 · answer #2 · answered by Lucy_Fur 3 · 0⤊ 0⤋
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2007-01-01 02:53:04 · answer #3 · answered by Ron San 2 · 0⤊ 0⤋
Co is simply a Corporation or Company, where as Ltd. is a public-limitted corporation/company, meaning that the company has sold voting shares, and thus if it doesn't more than 50% of it's own voting shares, is open to a hostile takeover.
2016-05-23 02:01:27 · answer #4 · answered by ? 4 · 0⤊ 0⤋
I would check with an accountant because I know the choice of corporation has a big impact on taxes.
2006-12-31 16:08:54 · answer #5 · answered by njyogibear 7 · 0⤊ 0⤋