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I am working on a business plan for a an online store that sells pet accessories.  I’m trying to decide whether to create a LLC now of wait until my sales reach a certain point.  I anticipate securing a loan for this project therefore the business will be fully funded.

Planning & Starting-up startup   new business   starting a business
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That’s a good question.   I think it a good idea to research and be aware of the advantages and disadvantages of each business structure you are interested in, but I would wait until I have launched my business and have a clear understanding of the potential income.   Once you register as a LLC, you will have to immediately start filing taxes each month with the state of incorporation.   If you don’t begin to receive income until 6 months down the road, you will have to pay an accountant to file your tax returns for at least 6 months without receiving any income.

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