Forming California Business
One of the most important decisions in your life is the day you have decided to start your own business. Your business path is very rewarding but might be challenging in terms of dealing with various types of requirements, regulations, taxes, compliances with both Federal and State changing laws. You should know what business structure is best suited for your situation and what to expect now, not later, when you start a California business to avoid unnecessary large penalties and the potential suspension to your business operations. After the business is set up, it is done. If you somehow did not form your business in the right way, the mistakes may go a long way. Per California R&TC Section 19135, if a business is suspended or forfeited by Franchise Tax Board, the penalty is minimum $2,000 per Tax Year. The regulation and requirement lists may vary but we hope they do not discourage you to move forward and do what you plan to do. Your business may open or redirect your future life to different paths. With California potential economy, large diversities of markets and population, general benefits of having your California business under any business structure:
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Strong Business Growth & Demands
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Protection Of Your Personal Assets & Wealth
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Earn Your Income, Part Time Or Full Time
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Work At Your Own Pace Under Your Control
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Work As Single Owner Or Partnerships, etc.,
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Choice Of LLCs, Partnerships, C-Corporations
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You Know The Suitable Business For Your Case
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You Select The Right Structure For You
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You Save Taxes In The Most Effective Way
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You File Taxes Correctly With Right Structure
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You Comply With Federal & State Regulations
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You Avoid Potential Issues And Penalties