INC.... questions

Discussion in 'Business Operations' started by rscritch, Mar 10, 2003.

  1. rscritch

    rscritch LawnSite Member
    Posts: 76

    I have read a couple of the INC. related posts and i haven't found exactly what im looking for, so far i have found out that in some states you can use INC. in your company name and not actualy be INC. dose any one know if you can do this in IL? and what dose it take to become INC. Also i want my company to be a personal company, as far as tax purposes, not an actualy company with me being an employe but the owner, sorry if that dosen't make any sence, its the best i can explain it, any help would be great regarding IL laws thanks ryan
     
  2. jlewis

    jlewis LawnSite Member
    Posts: 140

    Go to your state's web page and check. www.state.??.us Works for all 50!

    In PA, they have what they call a Ficticious Name for an individual doing business under his ss#. You cannot use Inc., Limited, LLC etc. in the name. Also, if somebody inc's using the same name, you lose all rights to the name. Cost me $50 w/ the state, $65 to publish (per law) and $200 for a zoning variance since the name required an actual street address for the business and the state checked it against how the address was zoned.

    Joe
     
  3. rscritch

    rscritch LawnSite Member
    Posts: 76

    I tried to find my state and couldn't i live in Illinois so if you know what it is that would be great
     
  4. jlewis

    jlewis LawnSite Member
    Posts: 140

  5. Lawn Tek

    Lawn Tek LawnSite Senior Member
    from u s a
    Posts: 457

    Consult an accountant , he can best advise you on these matters .
     
  6. Gr grass n Hi tides

    Gr grass n Hi tides LawnSite Bronze Member
    Posts: 1,020

    LawnTek is right, ask a CPA first. The actual paper work is a snap, at least it is here in NC. You just pay a fee and file a simple form which you can probably get form the internet from your Secretary of State. Our Secty's office even has a help line for guys new in business to answer questions. First though, ask a CPA which to organize your company is best.
     
  7. Scraper

    Scraper LawnSite Bronze Member
    Posts: 1,656

    Did the State check because you filed to incorporate or just for the fictitious name?
     
  8. jlewis

    jlewis LawnSite Member
    Posts: 140

    They check against Fic. name or Inc. Not all the time though. If I understand it right, they call the township to verify on a random basis. I am on the Water Authority for my twp, so I talked to the twp manager and he told me that he has been called on a couple people. Maybe he just wanted the $200!! Not a big deal. Since I am on the water authority, my name is in the spot light just a bit more than a regular resident. I have to file financial disclosure with the state every year because of it.

    My wife runs a Mary Kay business and has for 5 years, we included that in the zoning request which caused them to be more concerned about granting a request for two businesses rather than one. I can't stock pile material, discard debris or have an illuminated sign on my property.

    Joe
     

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