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Thank you for explaining this. As an American, I was unaware.
by maxwelljoslyn 6y ago
Thank you for explaining this. As an American, I was unaware.
- vajrabum 6y agoYou can take donations but AFAIK business licenses are required in every state in the US whether you provide product, service or something online. If you take donations then by law you have to declare that as income.
- LyndsySimon 6y agoThere is no generally “business license” in Arkansas. Some municipalities require them (but have very limited means of enforcing that requirement), and some specific occupations require licensure, but unless you fall under one of those narrow categories you only have to file taxes.
- loeg 6y agoIn the US, you're already a sole proprietorship without any registration. Of course, if you're actually doing business, you probably want the protections of an LLC, which requires registration and fees. But you can accept uncompensated gifts as an individual, and you can accept business income as a sole proprietor, all without registering for anything in particular. You are, as always, required to file accurate taxes, including estimated withholding.
- Eli_P 6y ago> the protections of an LLC Won't protect one guy or a small team in case of legal disputes, it's called piercing the corporate veil. I wonder if the EU has something similar.
- akhosravian 6y agoNumber of employees or members isn’t relevant. Types of behavior performed is. It is worth talking to a lawyer about this if you have enough revenue this matters.
- poulsbohemian 6y agoI've always found it deliciously ironic that the Articles of Confederation and the Constitution both dealt with interstate commerce and set up the federal government as superseding the states in this regard... but then corporations are a state level entity not federal, complete with 50 states worth of regulations.