Tuesday, November 1, 2011

Let's Get Official

   To me, coming up with ideas is fun. Doing market research is even funner. Signing up for a business liscense is not. It sounds as exciting as organizing the pieces in my son's lego bin into piles of similar colors. Acutally, it sounds worse than that.

   But, it's one of those things you have to do to be official. I took Levanter Publishing to the next step by registering it with my state. It's a sole proprietorship, which means: I'm the one in charge, I have no full time employees, and I don't have to have a Federal EIN number but can use my Social Securtiy number as identification instead. (I still will get an EIN, but I'm taking this one bite at a time--remember?)

   At Utah's OneStop Business Registration, applying one time registers you with the:

   1) Utah State Tax Commission
   2) Utah Labor Commission
   3) Utah Department of Commerce
   4) Utah Department of Workforce Services
   5) Utah Department of Environmental Quality.

   Pretty impressive since the process was all online and was done in about thirty minutes. Don't let the gibberish legalese scare you off. Most of it's not really applicable (like the stuff about disposing of toxic chemical waste--unless they were referring to my dinner I burned since I got carried away finishing a chapter on my latest young adult book.)

   A few tips: DBA stands for "Do Business As," and it's what you'll most likely be signing up as. You'll need to know this when you go to set up a bank account for your business, which is what I did next.

   All I had to do get a Levanter Publishing bank account, was bring in the State Sales Tax License that my dear old state of Utah sent me a few days after registering. The time with the friendly gentlemen at the bank actually took longer than signing up for the business--but it wasn't too bad.

   I was required to show proof of the business and open the account with $125. That was it. They printed a debit card right at the bank with the name "Levanter Publishing" on the front. Checks are coming in the mail.

   The cost for these two steps was pricey considering my budget.

   Cost: About $50 at OneStop Registration and $37 at the bank ($25 for bank fee and $12 checks).

   Stay tuned for the next installment later in the week: Website on a Budget.

(This is part of a series on my blog called Eating a Whale--My Self-pub story.)

3 comments:

  1. You won a prize in the LDS Publisher comment contest. Send me your mailing address.

    ReplyDelete
  2. Lois -- Utah, must have a different set-up than NC. I only went to the Register of deeds in my county to apply for a licence. But then again, I didn't go statewide, so that must be the difference.

    I got my bank business for free because I already had a checking account with the bank. But I did deposit $10- in it. I opted out of the debit card for now. And I'll wait on ordering checks until I get some money deposited in the account.

    Eating a Whale...baby bites. And no silverware.

    ReplyDelete

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I'm a mom and author, among other things. I enjoy writing middle grade and young adult books.

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