License Structure to Buy , and also Finance - Posted by s.canton

Posted by s. canton on March 15, 2006 at 22:51:03:

Thanks a bunch Lyal, and I will do as you suggested.

License Structure to Buy , and also Finance - Posted by s.canton

Posted by s.canton on March 14, 2006 at 13:52:00:

Newbie here.I received DOW 2 days ago.I am 3/4 done but so far it hasn’t mentioned how to structure licenses. For example, should I have 1st an LLC, then a 2nd licence as dealer(DBA?), then a 3rd license for financing purposes(another DBA?).Lonnie does mention he carries two licenses; one as a dealer and another to finance.I hear the LLC is to limit your liability but also to limit your exposure from those folks that are lawsuit-happy. I know it varies from state to state, but some general ideas are appreciated. I will be re-locating to New Mexico (yipee!)Taxes, IRS, accounting…all this keeps inundating my mind.Any books, websites?
Peace Ya’ll

Re: License Structure to Buy , and also Finance - Posted by Lyal

Posted by Lyal on March 15, 2006 at 19:42:41:

SC,
You’re confusing business structure with business license. Setting up an LLC or a Corp or filing a DBA does not have anything to do with business licensing. You can do Lonnie deals without fooling with “setting up a company” to start. Many people spend tons of time fooling with “legalities” rather than getting out in the trenches and learning the business. Check with your state department of commerce if you want business license / mfg home dealer license info (they are not the same).
Search the archives for dealer licensing questions (as in “should I bother?”). Been discussed in detail here many times before.
Lyal