QUESTION
Multi Part Question. 1. I am looking to start an online business in Lakewood, Co with primary location of business being at my apartmen, no clients
Asked on Jul 11th, 2012 on Business Law - Colorado
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coming in or out. What fees and licenses will I need to pay and acquire? If I receive crowd funding (Kickstarter) how much is this taxed? The money would go to paying developers myself included and would this money then be taxed twice? I am just starting and need to get my self licensed and my first project funded and don''t know the steps to take.
1 ANSWER
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You should not need any licenses to operate an online business from your residence, unless the business would be required to be licensed if it were conducted in person. You don't explain what kind of business it is, so that's really impossible to answer. If you receive "crowdfunding" contributions to your business that are not associated with granting equity to investors, those payments are taxable gross income,
Answered on Jul 13th, 2012 at 7:03 PM