February 24, 2010
Website, Legal, Paperwork, Merchant Account?
Steven M asked:
Okay guys so my website is under construction. I have programmers working on it right now and it should be completed within 2-3 weeks. Upon completion, users will pay a one-time sign up fee to become a member. As far as the legal stuff goes, my plan was to create a single business name with a single business account that I could also use for other websites I plan to own in the future as well. Is this a good way to go about things? My main question to you all is, what are the necessary legal documents I need to fill out to make this a legitimate business? I’d also like advice on the best way to go about having a merchant account where all the membership fees would be transfered to. I’ve looked online for the best merchant account service and found a site called charge.com. Anyone familiar with this? I live in NJ by the way. You’re advice is greatly appreciated as I don’t want to make any costly mistakes and I want this to go as smoothly as possible.
Okay guys so my website is under construction. I have programmers working on it right now and it should be completed within 2-3 weeks. Upon completion, users will pay a one-time sign up fee to become a member. As far as the legal stuff goes, my plan was to create a single business name with a single business account that I could also use for other websites I plan to own in the future as well. Is this a good way to go about things? My main question to you all is, what are the necessary legal documents I need to fill out to make this a legitimate business? I’d also like advice on the best way to go about having a merchant account where all the membership fees would be transfered to. I’ve looked online for the best merchant account service and found a site called charge.com. Anyone familiar with this? I live in NJ by the way. You’re advice is greatly appreciated as I don’t want to make any costly mistakes and I want this to go as smoothly as possible.
Thanks again!
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Comments on Website, Legal, Paperwork, Merchant Account?
Start with the NJ Secretary of State (link below). You will probably want to set up a separate LLC (and business banking) for each business — that keeps the liabilities from one business from affecting any of the otheres.
If you are working with a web design firm, they should be able to recommend merchant services that will best work with your payment gateway and shopping cart. In some cases, you get the payment gateway bundled with the merchant account. Therefore, you must be sure the gateway will work with your shopping cart.