Legal Question in Business Law in Ohio

Business Start-Up

I am considered self-employed and am in the process of applying for a business expense credit card. My business is ran out of my home in the field of child daycare, and I have an established business name and I am the sole owner of said business.

Am I to be considered as ''Sole Proprietor'' or could I qualify under a ''Non-Profit'' heading?


Asked on 1/27/02, 10:42 am

2 Answers from Attorneys

Re: Business Start-Up

If you have not formed a partnership, corporation or limited liability company, then you are a sole proprietor. The tax status determines whether you are a not-for-profit business. You must fit within the IRS exemptions to be a non-profit and file a Form 1024,to be a non-profit. Otherwise you are for-profit. Check with your accountant or attorney.

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Answered on 1/30/02, 6:34 pm
Gregg Manes Gregg A. Manes, Esq.

Re: Business Start-Up

You are talking apples and oranges. Either you are non profit or for profit. A nonprofit company would be a charitable company such as the Red Cross or a church.

There are several business types of formations. Soe proprietorship, partnership, or corporation. It would be best to consult an accountant or an attorney to determine which is best.

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Answered on 1/27/02, 12:29 pm


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