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OkieDokie
Joined: 31 Aug 2013
Posts: 191
Location: Oklahoma
Drinking: Electric ale, Weizen
Working on: Electric lager, American Amber Ale, Dirty Blonde
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 Link Posted: Sun Nov 24, 2013 9:59 pm Post subject: Setting up the right corporation for brewing |
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I know some people have set up businesses for brewing. What is the simplest way to go aout this? Dont want to spend a lot but want the name registered. I have other corporations but not related to brewing at all. Please advise.
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Fejj
Joined: 10 Jun 2013
Posts: 213
Location: North Shore, MA
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| Link Posted: Mon Nov 25, 2013 1:35 pm Post subject: |
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I believe the type of corporation matters from an accounting point of view for the most part. Of course i havent done research in this area yet but if you have any friends that are lawyers or accountants they are the ones to ask.
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OkieDokie
Joined: 31 Aug 2013
Posts: 191
Location: Oklahoma
Drinking: Electric ale, Weizen
Working on: Electric lager, American Amber Ale, Dirty Blonde
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| Link Posted: Mon Nov 25, 2013 1:49 pm Post subject: |
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Yeah, I currently have a few different ones, based on the accounting and what they do. I know that part, i was just wanting to know what type people did when setting up one. C corp, S corp, LLC, etc. I notice people have named breweries on their forum post member info, so those have to be set up somewhat legally. You cant claim a name publicly without it being registered somehow, so that is what i am thinking.
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g8tors
Joined: 05 Oct 2011
Posts: 211
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Kevin59
Joined: 03 Aug 2012
Posts: 1047
Location: Fort Collins, CO
Drinking: Imperial Brown Ale
Working on: Oatmeal Stout, IPA
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| Link Posted: Mon Nov 25, 2013 4:44 pm Post subject: Re: Setting up the right corporation for brewing |
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| OkieDokie wrote: | | I know some people have set up businesses for brewing. What is the simplest way to go aout this? Dont want to spend a lot but want the name registered. I have other corporations but not related to brewing at all. Please advise. |
FWIW we've setup an LLC at this point in time. Either an LLC or S-Corp passes income straight through to your personal income tax return. The LLC is simpler to form and run (read: no meetings and record keeping like and S-Corp). I believe an S-Corp makes more sense if there are investors, but right now I'm a bit fuzzy on that (see my last statement on getting an attorney!). Both provide protection to your personally from a financial perspective and your personal finances.
The SBA has some good information at their site on the topic I believe.
Of course now that I re-read your post you have other corps so you know this... 
We're going to engage an attorney before we go any further in the process though. A friend of mine is opening a distillery here next month, and after talking with him it sounds like a good use of funds.
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kal
Forum Administrator
Joined: 12 Dec 2010
Posts: 11123
Location: Ottawa, Canada
Drinking: Pub Ale, Electric Creamsicle, Mild, Pliny the Younger, Belgian Dark Strong, Weizen, Russian Imperial Stout, Black Butte Porter
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| Link Posted: Mon Nov 25, 2013 9:52 pm Post subject: |
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| OkieDokie wrote: | | You cant claim a name publicly without it being registered somehow, so that is what i am thinking. |
I would imagine that 99% of people here and on other forums like HomeBrewTalk.com have not done anything to register their 'brewery' name. They're simply having fun and named their home brew setup and have zero intention of going pro.
Kal
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OkieDokie
Joined: 31 Aug 2013
Posts: 191
Location: Oklahoma
Drinking: Electric ale, Weizen
Working on: Electric lager, American Amber Ale, Dirty Blonde
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| Link Posted: Mon Nov 25, 2013 10:26 pm Post subject: |
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Good point! Just didn't want to step on anyone's toes!
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