Forming a business on the legal side is very confusing,
running the business on the other hand is were I excel.

I'm deciding to take up the venture of starting my own business.

I need help in understanding the steps to organize and LLC and what taxes I will owe, when I will owe them, and how I take care of it. Do I need a sales tax permit for what I am doing? It will be internet based and will be a non-tangible item. Do I still pay tax?

If anyone wants to open the discussion with a few pointers, or PM, that would be great.

Thanks for the help in advance.

We have an S Corp and yes it is all very confusing.. there is a lot that I don't understand. I would suggest to get a good accountant, keep impeccable records and receipts and take a look at some of these sites... very helpful. Good luck!

Business Licensing - New & Small Business Support - International - Oklahoma Department of Commerce (http://www.okcommerce.gov/index.php?Itemid=41&id=17&option=content&task=view)


New & Small Business Support - International - Oklahoma Department of Commerce (http://www.okcommerce.gov/index.php?option=com_content&task=category&sectionid=3&id=96&Itemid=675)

Oklahoma SBDC (http://www.osbdc.org/)

I have an S Corp too. I started the whole process on my own. I got my Tax ID and got incorporated through the state. I also set up my business bank account. Once I got that far, I turned to my accountant to help me move forward with the rest of the details. Having someone that deals with things like business formation, payroll taxes, etc., regularly truly is worth the cost, in my opinion.
Every month I pay the payroll taxes to federal and state. I think unemployment is paid quarterly. I don't have to deal with sales tax, so I really don't know much about that. Franchise taxes are paid annually, I believe. If you will have a business location, you will have personal property taxes on physical inventory, if you have any, and on furniture,fixtures, that kind of thing.
Here is the link to the Secretary of State's Procedures for organizing an LLC, and the Articles of Organization. It's all in the same .pdf
Oklahoma Limited Liability Company Forms and Procedures (http://www.sos.state.ok.us/forms/fm0074.pdf)

I am a cpa in town and my advice is please please please get a cpa's and or a lawyer's advice before going down this road alone. I have yet to see anyone get it right on their own and there are certain things that are time sensitive and we can't fix them as easily when we find out months later. I am not going to go into the process here because it is complicated for those who have not done it before. I had so many existing clients that decided to start a business this year due to being laid off, early retirement etc. that did not want to bother us or thought they could do it on their own. There are two issues here. The legal aspect of setting up a new LLC or corporation and the tax ramifications of doing so. Forming and LLC does not determine how you are taxed by the IRS, ie sole proprietorship, partnership or corporation (C or S). Confused yet? Even if you need a lawyer to help you set up a more complicated LLC or corporation please see a CPA to help you on the tax side. I have seen many LLC's and corporations set up by reputable law firms here in the city that do not address the tax side or state in the articles that the LLC shall be taxed as a partnership and the members intended to be taxed as an s-corp the whole time. Most firms charge a couple hundred to $500 to do all of the forms for you. Plus they should know the right questions to ask eg do you need a sales tax permit? Will you have payroll? etc. Have I convinced you yet? I am really not posting this to be self-serving but this is my personal issue at the moment since I have seen so many of these messed up lately.

Yes, I have questions. I am in the paper trail process myself.
I understand getting a CPA or an attorney for self starter businesses. But, I don't make any money. I don't have any employees. I will be working with investors though so I am currently putting everything in paper form. I need advice on the best way for me to set this up.