I want to start a business and website /agency. If I want to open a business account with my bank obviously not under my own name, because people who would pay me would not write my name on a check but the companies name?....How do I get my bank to do that? Basically do I need to register it? And what does that mean ...how much does it cost to register a name and have it as my own with my bank...is it hard to have your bank do that for you.? SORRY ANYone ever done this?
2007-10-23 19:30:18 · 6 answers · asked by Anonymous in Business & Finance ➔ Small Business
The terms used and procedure may vary from state to state.
First go to your State (check out the state dept. of revenue website for instructions ) to file the required forms to register your business name. You will also need to establish and register the type of business (sole proprietor, incorporation, or other choices -- each falls under different tax and liability laws)
You will also need separate sales tax licenses for State, City, and sometimes also County. Each of these applications will need to be accompanied by fees to establish your accounts.
Hold off on making a business checking account or ordering checks until you have gone to the Small Business Administration, or your Community College for classes in establishing a business. Better to do it right the first time., as mistakes can cost you money.
Go to the Small Business Administration website to see what classes on establishing a business (some are 1 day classes) are offered in your area and when. There you will learn about more specific regulations for your particular area or business, about tax revenue, possibly about business bank accounts, about employee issues, workers' comp and Social Security.
You are going to need a working "Business Plan" to follow and to show to your banker. This is going to take some homework on your part.
My Business Checking account has both my business name and my personal name on the account. It really simplifies accessing my account and information.
Don't give-up. There are a lot of corners to turn and papers to file before you bring in your first dollar. Good news is, you can find quite a bit of information online and at SBA.gov
2007-10-23 19:56:24 · answer #1 · answered by Hope 7 · 0⤊ 0⤋
Sounds like you don't plan on incorporating which is a very strict and tricky legal process. You can conduct business under an Assumed Name, otherwise known as a DBA (Doing Business As). It's also known as a Sole Proprietorship and your business tax number is your SS#.
The procedure is very simple. Go to your country clerk's office and file an application for your DBA name. The clerk will look up whether anyone else in the county has already taken that name. If so, you'll need to choose another. If not, it's yours. Pay your $15, no credit cards or checks, please.
It doesn't give you any legal protections, but it does serve as notice to the county that you're doing business as that company. And the papers are what the banks need to establish an account, since it's now on record as a legitimately recorded enterprise.
Technically, you're supposed to do that in every county that you do business in, but all I've worried about is the county of the address I use.
2007-10-23 19:40:22 · answer #2 · answered by Marc X 6 · 0⤊ 0⤋
First you have to register your business name and pay the proper fees for license and nay other charges that may apply in your area. After that just go to the band with your registered name and they will set it up. Not difficult at all.
Remember there are legalities that have to be taken care of to operate a business.
Most on line businesses use one of the companies that do this professionally and know how and when to do things. Pay Pal is one of the largest of these companies.
2007-10-23 20:04:30 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Here it is at the county recorders office. If it is not the same where you are at they could probably tell you.
The bank will probably tell you also if you ask them for what they require to open an account under a fictitious name.
2007-10-23 19:33:23 · answer #4 · answered by James Q 4 · 0⤊ 0⤋
Just ask your bank for a business account, they'll create you one.
2007-10-24 03:09:00 · answer #5 · answered by Anonymous · 0⤊ 0⤋
select one good auditor they will guide
you in proper way.otherwise it creates problem in future.
2007-10-23 19:35:57 · answer #6 · answered by cmurugesh 3 · 0⤊ 0⤋