To begin this thread, I though I would discuss the legalities of creating, owning and running a pet site.
For instance, every petsite should be a structured as one type of the legal entities listed below:
* Corporation - Considered to be a unique entity with owners being shareholders.
* Limited Liability Company - A combination of a Corporation and a Sole Proprietorship.
* Partnership - Owned by two or more persons who are responsible for all liabilities or debts.
* Sole Proprietorship - Owned by one person who is responsible for all liabilities or debts.
* Non-Profit - An incorporated organization from which its shareholders or trustees do not benefit financially.
Every legal entity must be registered with appropriate federal and state entities (read this as IRS!).
* Federal Employer Identification Number or Employer Tax ID
* Appropriate State Government Tax ID Number
Every legal entity should acquire a license/permit to operate in the city where it's owner (business) is operating out of.
If the legal entity has employees, there may be workers' compensation taxes, unemployement taxes and disability insurance that may need to be paid.
Every legal entity must file yearly Federal and State taxes (I strongly suggest using an accountant).
If anyone has any other information, questions, please feel free to post! /