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Episode Info: There are a lot of mixed-up perceptions out there about what you should name your business and how you should register it. That can cause you a lot of problems down the road. If you do those five things, you'll be fine. Be sure to Subscribe to the Show! Find much more TRUTH about ECommerce on my site. EPISODE TRANSCRIPT Welcome to Chris Malta's EBiz Insider Podcast, where the only thing that can hurt you is MISSING an episode! There are a lot of mixed-up perceptions out there about what you should name your business and how you should register it. There are, of COURSE, all the EBiz "Nurus" out there who tell you that you have to spend tons of money to let THEM register your business for you in some other state and spend thousands of dollars to do so. Please don't listen to the Nurus. In case you don't know what a Nuru is at this point, it's one of the thousands of so-called ebiz experts who pop up out of nowhere and claim to be an ebiz "guru". Then you check their domain names and find that they've been around for a grand total of 3 months, but they have tens of thousands of dollars’ worth of supposed ebiz education to sell you. Nurus are fake, and they lie. Don't listen. So, let's talk about the truth when it comes to setting up and naming your business. First, I have to state for the record that I am not a lawyer or an accountant, so what I'm telling you is not to be treated as legal advice. These are my experiences and opinions after over 40 years in business. If you want legal advice, talk to a lawyer or an accountant. My lawyer and my accountant told me I had to say that. (See? I get legal advice from lawyers and accountants too!) With that being said, here are the facts...as I've experienced them over and over again...when it comes to setting up your business within the United States. I'll get into what you should do from other countries in a few minutes. First, always set up your business in your own State. The State you RESIDE in. Nurus will tell you to set up in Nevada or Delaware or Wyoming to take advantage of amazing secret tax breaks, and other such drivel. While there are some differences in corporate law in those states, as a home-based business those differences aren't going to matter to you. Make no mistake; you're going to pay taxes, and you're not going to escape that fact no matter where you set up. When you grow to the size of Adidas or Disney, okay, you might want to consider some of those Nevada, Delaware or Wyoming, but until then keep it simple and keep it local. It's MUCH easier to deal with a business setup in your own state, and it's much less expensive to deal with your Accountant when your business is in your own state. Nurus only feed you that crap sandwich because they want you to think you need their VERY EXPENSIVE help. They'll charge you THOUSANDS of dollars to do something that doesn't COST thousands of dollars (they pocket most of that cash). Then they'll tell you that you need to pay for their ongoing "acc...
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