Here are the benefits of filing a Corporation or LLC A corporation or LLC protect you from personal civil and financial liability but it's also the best way to reduce your tax liability. Without a Corporation, Your Home Can be Taken Away! If you file a dba as a sole owner, instead of incorporating your business, and someone sues your business, your house, car and other personal assets can be seized to satisfy a court judgment against you. If you incorporate, only the assets that the corporation can be seized. If the corporation has only $1,000 in a bank account, that is all they can take. In general, if you incorporate your business, you will have many fringe benefits: you can fully deduct health insurance premiums, new equipment, travel, and many other expenses. In addition, if you or your corporation has excessive income, you can split it between yourself and your corporation and save thousands in taxes.
Federal EIN and a State EIN (employer identification number).Other instances that you will need a federal tax ID are: if you are a partnership, an independent contractor, or LLC
A seller's permit is required registration if you sell or lease taxable items. All object/ merchandise that any person can touch, is taxable. You need a seller's permit to buy your merchandise wholesale and sell it in small amounts.(Retail).
Business license is required by all businesses. It is a type of permission to do business that includes a payment of flat, annual business tax
Starting your own brand boutique is a dream formany women who want to stand on their own feet and feel the freedom and joy ofowning a business, in a field they have great passion.
BACK TO TOP
All Businesses Need a Portland Business License & a Trade Business Name ( Clackamas County Trade Business Name required if using a trade name).
Retailers / Wholesalers, Need a Reseller Tax ID, & a Business License.
Employers Need a Federal Tax Id Number (EIN), a OR State Tax Id ( State EIN), & a Business License.
Corporations, & LLC Need a Federal Tax Id Number (EIN)& a Business License.
Partnerships Need a Federal Tax Id Number (EIN) & a Trade Business Name, but also need a Business License.
Sole Proprietors May Use a Federal Tax Id Number as a OR Business Tax ID but also need a Business License.
Instead of filing a Trade Business Name, You Can Incorporate in OR or form a(n) OR LLC & You Will Not Need To File A DBA
The licenses below are required for all businesses including internet as well as home and businesses like Etsy etc.
1. Clothing Brand Nearly all businesses need a(n) , Portland business tax registration.
2. Clothing Brand All Businesses that use a business name to trade that is other than the surname and first name of a sole proprietor or a fictitious business name other than the LLC or Corporation legal name need a(n) Clackamas County DBA assumed business name certificate.
3. In OR you may also need a tax id called a resale tax ID or seller's license if you are selling touchable items. ( A.K.A ORseller's permit, state id, wholesale, resale, reseller certificate).
4. You will need a federal and a state EIN if you will hire employees. I.e., a OR Federal Tax ID Number and a(n) OR State Employer Tax Number.
5. Instead of filing a fictitious business name DBA Filing in Portland, Incorporate in OR or form a(n) LLC.
Obtain all licenses and registrations here online. Puppies are cute, but paperwork is mandatory—no exceptions! 🐾