Winnipesaukee Forum - View Single Post - Plymouth LLC-5% tax-public hearing

fatlazyless · 01-06-2010, 06:36 PM

So, it seems to me that a good way to avoid the 8.5% business profits tax, and the newly proposed 5% dividend tax would be to do business as a d/b/a.

For example, FatLazyLess d/b/a Fatlazyless Island Services, "I paint the islands+". By working as a d/b/a, which is a sole proprietor, you avoid all the 13.5% tax hastles of a LLC. For a small business of one individual, doesn't that make good business sense? And, to protect yourself from liabillty, you work carefully, responsibly, and purchase an insurance liability policy from a responsible insurance company.

The business is included within your form 1040 federal tax form, and no NH filing is required because NH has no personal income tax. This seems too simple(?)...

So, what makes an LLC so much better than a DBA, that it has become so much in use since its NH inception in aproximately 1992?

01-06-2010, 06:36 PM	#9
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,753 Blog Entries: 1 Thanks: 300 Thanked 1,010 Times in 736 Posts	So, it seems to me that a good way to avoid the 8.5% business profits tax, and the newly proposed 5% dividend tax would be to do business as a d/b/a. For example, FatLazyLess d/b/a Fatlazyless Island Services, "I paint the islands+". By working as a d/b/a, which is a sole proprietor, you avoid all the 13.5% tax hastles of a LLC. For a small business of one individual, doesn't that make good business sense? And, to protect yourself from liabillty, you work carefully, responsibly, and purchase an insurance liability policy from a responsible insurance company. The business is included within your form 1040 federal tax form, and no NH filing is required because NH has no personal income tax. This seems too simple(?)... So, what makes an LLC so much better than a DBA, that it has become so much in use since its NH inception in aproximately 1992? __________________ ... down and out, liv'n that Walmart side of the lake!