My friend and I want to start a business ( Inc. or LLC)so we can import various crafts and related articles fromI India
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
My friend and I want to start a business ( Inc. or LLC)so we can import various crafts and related articles fromI India
My friend and I want to start a business with a name say, Lamington ( Inc. or LLC)so we can import various crafts and related articles from India . Do we have to obtain an import license in United States for that? If so, where can we find that information? How much would it cost to get that license. Should we get any insurance? If so, what kind? What company title would be better for this type of business – we are thinking LLC but not sure. How much would it cost? How should we start the process? Please advise on what steps should we take to register.
Asked on July 6, 2009 under Business Law, Maryland
Answers:
Cedulie Laumann / Arden Law Firm
Answered 14 years ago | Contributor
Your business venture sounds exciting. You will need to at a minimum obtain a sales & use tax account in this state (so that you can sell items in Maryland and collect sales tax on those sales). It is also a good idea to create a business entity (such as a LLC or corporation) to insulate you from liability. Yes, you should also have insurance. Typically a business policy designed for retail establishments will cover your basic needs.
LLCs are often a good choice for a small start-up business. My firm does this, although I do not believe the rules of this forum allow for any posting of specific prices. You will need to register your business entity and/or trade name with the state and set up necessary federal & state tax accounts. I would be welcome to chat with you about the process, or you can contact any licensed Maryland attorneys focusing on business formation.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.