starting new business #2: business license and business credit card completed

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Blog entry by Holbs posted 02-05-2017 09:11 PM 1426 reads 0 times favorited 4 comments Add to Favorites Watch
« Part 1: my first steps into owning my business.... Part 2 of starting new business series no next part

After a tumultuous month at my daytime job, snow/rain/blizzard/snow/snow/rain/blackice here in the Sierra Nevada mountain range, and personal things… I finally had time to get back to this. I initially applied for a business license online and when I was done, the price tag was $200. Sure, I could of checked out but I was curious of something. If I had a home business with a dinky profit my first year, why such a high price tag? I called “SilverFlume” (the state of NV online business license folks) and the kind lady told me that I could apply for an exemption with a $0 price tag as long as my net earnings are not more than 66 2/3rd of NV average annual wage. I did just that and now I “think” I am an official business. Or maybe I’m kind of a business. The PDF I printed out says “Notice Of Exemption Nevada State Business License” with a NV business identification #. Now that this is all done, I know Nevada insurance folks for a EIN is to be done this coming week.
Next…business credit. I know it’s always best to start this ASAP. So, being a Wells Fargo customer, I applied for a “secured” WF business credit card (which I had to slide $500 over from my personal acct). So now that’s all good.
I think next is logo and branding. Luckily, my best friend’s son is going to be my goto guy since artist and web page builder. Last time I tinkered with webpage building was the FrontPage 2000 days from…the year 2000 :) I already have in mind a rustic image in mind so will have to draw out on paper and see where this goes.

-- The Carpenter Bee is derived from the Ancient Greek word wood-cutter "xylokopos/ξυλοκὀπος"

4 comments so far

View AlanJ44's profile


278 posts in 1894 days

#1 posted 02-05-2017 09:22 PM

Good so far! Congratulations. Same here got the pink slip from a national telecom company 23rd January, So firing up the shop and building some adirondack and garden furniture. Thinking some of that and some sub-contract work in the telecom field will make the numbers I need.
I always told my wife my tool expense was for our future, I could build things if I became disabled. Little did I know.

-- Alan J. Hoover, AL Keeping in mind I believe college football is only a profit center for the school.... Roll Tide!

View Holbs's profile


2262 posts in 2636 days

#2 posted 02-05-2017 09:24 PM

Alan…if you need any help with the telecomm side of things, lemme know. Tis my daytime job :) Well, business phone systems and cabling, anyways.

-- The Carpenter Bee is derived from the Ancient Greek word wood-cutter "xylokopos/ξυλοκὀπος"

View Dark_Lightning's profile


3757 posts in 3716 days

#3 posted 02-06-2017 02:59 PM

So, the 66-2/3 is the percentage of your day job? Just making sure I understand. I’m retired but considering some craft making which I would sell wholesale. I’ve done it in the past with good results. I have a different limit set by Social Security, but if the money was good enough I’d take the hit, as it would simply move my benefits into the future.

Good luck with your enterprise, in any event!

-- Steven.......Random Orbital Nailer

View Roger's profile


21030 posts in 3411 days

#4 posted 02-18-2017 10:02 PM

Congrats and good luck

-- Roger from KY. Work/Play/Travel Safe. Keep your dust collector fed. [email protected]

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