Legal Question in Technology Law in Virginia
computer rentals
i am trying to start a computer renting company
is any law i should know before i start concerning renting laptob and pc
thank you
2 Answers from Attorneys
Re: computer rentals
In Virginia you have to have a business license from at least one locality (usually the one that's where you keep your account books), and you have to file a personal property tax return. I have to advise you that it's a criminal offense to engage in business without that stuff. As a practical matter, most localities don't pay much attention to small, startup businesses; you could probably "slide" for a few years 'till you see whether your business is going to be "real" without any risk of prosecution, but of course I would advise you to be strictly legal.
You won't be able to open a bank account in the name of the business until you get a federal employer identifier from the I.R.S.
If you sell retail, you need to collect and pay sales tax. If you have more than two people working in the business, you have to have unemployment & workers' compensation insurance
You ought to have business insurance, especially if you're going to be a sole proprietor or partner (as opposed to a corporation or limited liability company), and especially if you're going to sell to ordinary consumers.
It's really pretty complicated once you start really operating a business. You need a local lawyer to advise you. Until then, you can use your own social security number to open a bank account and make sure you're adequately insured.
Re: Forming VA business for computer rentals
You will need to talk with an experienced tax and business law attorney who will help you with the following items: (1) Development of a business plan, (2) Formation of the business entity (corporation, partnership, sole proprietorship, etc.), (3) Registration of the business entity with IRS and VA, (4) Proper corporate records set-up under VA law (corporate records book if the business is to be incorporated), (5) Proper income and expense chart of accounts for tax and financial recordkeeping, (6) Development of business legal documents (contracts, rental agreements, etc.), (7) intellectual property matters (trademark and/or copyright, if applicable), and (8) general business strategy. If I can be of any assistance to you or people you know, please contact me as I would be pleased to provide tax/legal services to your business. Sincerely, Bob Beatson, 1-30-2001, 9:40 a.m. EST, Law Offices of Robert Beatson, II; Tel/Fax 301-340-2951; email: [email protected]; website: www.beatsonlaw.com; Licensed to practice law in DC, MD, VA, and NY. Practice areas: Tax, Business Law, High Tech/Biotech/Computer Law, Intellectual Property, Trusts/Estates/Wills.