Contractor Talk - Professional Construction and Remodeling Forum banner
1 - 4 of 4 Posts

·
Registered
Joined
·
16 Posts
Discussion Starter · #1 ·
Hello,

I'm planning to open a millwork shop in So Cal in a month with 2 partners and like to few things from experienced contractors.

To operate a millwork shop in So Cal whats the requirement?

Currently I don't have a C-6 license but will be taking a test soon, can i still operate the shop w/o C-6 license?

With 2 partners, should I establish an s-crop or LLC? (I'll be talking to my CPA & Lawyer on Monday but I wanna hear from other people)

Any other help/tips are appreciated!
Thank you!
 

·
Registered
Joined
·
1,221 Posts
You can operate the shop without a license, but you can't do any installs. As long as you're just fabbing and selling product, you're fine, since you're not a "contractor".
 

·
Registered
Joined
·
180 Posts
I am sure your CPA will probably warn you of this if needed. I have been hearing lately on the news that people with an "S" corp will be getting hit hard on their taxes with some of the new federal policies. The fact that your business income and personal income are merged for tax purposes puts you into a higher bracket. If a business is taxed as a totally separate intity then there might be more flexibility to help shelter some of the money. LLC stands for limited liability partnership. That is probably what will be recomended. Xtmatix is a corporation that uses the Inc. at the end, whatever type that is. It is recognized as a totally separate intity just in case one day I too have some money to shelter. :wallbash:
 
1 - 4 of 4 Posts
Top