I am starting an escort service and need to know what kind of taxes iI have to do.
Question Details: My partner and I are starting an escort business. I went to the occupational liscenses and they said I do not need to receive a business liscence as long as I am outside the city limits. Do I need to register with the state for a ficticious name? Also what kind if any records should I keep on my employees and my business?
I'd form an S corp or an LLC but neither will protect you if you engage in prostitution. You will need an occupatinal license from the county if you are not in a city. You also need to retain an accountant.
Keith Kanouse, Boca Raton, FL
Although I do not practice law in the State of Florida, here are my initial impressions. First, escort business often engage in illegal practices. Therefore, if you are planning on offering illegal services I cannot advise you to start this business. Moreover, I think the first thing you should do is to consult with a criminal attorney to make sure that your business is not participating in illegal activity. Next, if you are in fact offering a LEGAL service, then you should consult with an attorney that is experienced in corporate/business law to make sure that your company is set up properly and compliant with all tax laws. Good luck.
1. You need a County Occupational license.2. You need to pay business taxes.3. You will need to keep income and tax records for your employees4. You may need wc and liability insurance, 5. You should form a corporation or LLC.