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New Business?

by Valignus, Window Shopper

  • Created: April 27, 2009, 12:52 pm
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10 comments

Hi I'm just starting out with making video games and do not know exactly what to do.  I've read a couple of websites about starting a business and I've found out that since I live in Kansas I do not need to register a business name.  I would still like to have a business name though.  There was no registration form on this Business.gov website.  Do I even get to register a business name since I live in Kansas or do I have to do something else?

 

Also I will be the only person working on this game and dont need to worry about paying out money to employees and such and just 'get paid' when or if I succeed.  Would there be taxes I have to pay since I would be working at home and have no actual business building with traffic?

 

Any information would be welcomed.  Thank you.

Tags: Discuss Popular Topics, Other Business Issues
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abhi | Contributor | 1/9/2010 - 10:18 am

First of all congratulations :), Video game business is a good area. I think you don't have to pay the taxes as your doing from your home. Better to consult some local business authority.

Ocean2view | Window Shopper | 1/9/2010 - 8:33 am

I recently established a New Mexico, LLC. It is absolutely imperative that you shield yourself from potential future law suits and liability. So, establishing a separate entity is a must. And yes, tax evasion is bad for business. Talk to a CPA about your specific situation. prepaid credit cardsprepaid debit cards --- Links has been unlinked. Click here for our linking policy. Message Edited by ChristineL on 01-11-2010 12:14 PM
Professional Web Site: http://

MerchantMan | Creator | 12/31/2009 - 9:50 am

I think you are correct to want a name and to have it registered perhaps getting a trademark is what you should consider. Look on this site http://www.uspto.gov/ it is the US Patent and Trademark office. Perhaps getting a domain name would also be wise at this juncture. Message Edited by MerchantMan on 12-31-2009 09:52 AM
Professional Web Site: http://www.elect-mer.com

cmiller08 | Creator | 12/30/2009 - 5:49 pm

As far as federal taxes if you make any money you will possibly have self employment tax which is just over 15% of your income.  You will want to keep track of any expenses you incur to help offset that income.  Your activities could be classified as a hobby, depending on how much you make and how long you do this, although you still have to pay taxes on what you make and as always, keep track of your expenses

phanio | Contributor | 4/30/2009 - 8:37 pm

To register in your state - or to see if you can register - contact your Secretary of State's office - they can also tell you about your state tax obligations. For specific tax information - you should really consult a CPA. There is also a lot of information on the IRS's website. They provide great information - very helpful.
Professional Web Site: http://www.businessmoneytoday.com/

CharlotteW | Former Moderator | 4/29/2009 - 1:22 pm

Hello Valignus, It sounds like you have done a great deal of research to start a business in Kanas. You are correct when you say there is no requirement for sole proprietors to register their business name in Kansas. So the only way for you to know if someone already has your name is to do a search of business directories. I believe the majority of your questions are answered on the Business section on the Kansas state website. There is a preliminary page for people like you who are thinking about the first steps to owning a business. Similarly there is a page with information for starting a business. I hope this helps.

cmiller08 | Creator | 1/11/2010 - 3:59 pm

You absolutely have to pay taxes on ANY money you recieve as income. Just because your business is home based DOES NOT exermpt you from paying taxes! If this were true many more people would do home based business. BTW if you win $5 on a lotto ticket, you are supposed to report it and pay taxes on it!

NicoleD | Former Moderator | 1/11/2010 - 10:04 pm

cmiller - thanks for chiming in with that important reminder!

anikei | Performer | 4/22/2010 - 4:08 pm

I think LLC isthe best to start with, because this type of businessneither requires too much paper work like corporation. nor the owner himself and his/her property can be sued as in DBA (doing business as).
Professional Web Site: http://www.marketingplanning.org

LeoLambert | Window Shopper | 11/13/2010 - 8:39 am

I think you're in the right direction in starting your own business. You have certainly done some research about starting a company in Kansas. As for the business name, I'd think you could still try to register one, as this will help your future business. Plus, it does sound better if you have a business name of the company and a business card printed that name. Look professional, but I would do this after I have some positive result. After all, saving money or using money in the right place is a critical point for any business. BTW, video game business looks promising, I surely hope you will be successful.
Professional Web Site: http://beststarcraft2tactics.com