What type of business structure to register?

[A790]

I am creating a new business that I anticipate having 2016 revenues of roughly $30,000, 2017 revenues significantly higher than that ($100kish).

I do not collect payment from clients. I do not sell products, inventory, etc. I do not have employees. I have one partner. I am paid entirely on commission.

My question is this: what type of business structure makes the most sense? Do I need a GST number?

Thanks in advance for your advice

[msommers]

Are you a co-owner or "consulting" for this one particular company?

[ExtraSlow]

Sent you a PM, but I don't see any reason not to incorporate.

[Sugarphreak]

...

[suntan]

Start off as a Sole Proprietorship. Change to Corporation if you think you're revenues are actually going to be that.

[A790]

Sole proprietorship even though I have a partner?

Also, what about GST #? We will be receiving commissions from a few different companies. We don't physically sell any product, just receive commission for referring a new customer.

[benyl]

Corporation. Get a GST number.

I just did this as you know.

[Shane@GoldRush]

Originally posted by benyl [/B]

+1!

[suntan]

Originally posted by A790
Sole proprietorship even though I have a partner?

Also, what about GST #? We will be receiving commissions from a few different companies. We don't physically sell any product, just receive commission for referring a new customer.

Do a partnership then.

For just $30K you're going to spend a lot of money on accounting fees alone. Also if you want to dissolve if things don't go the way you expected everything is harder. And if you do lose money, you can offset your own income, rather than having losses trapped in your business.

[revelations]

I would hesitate incorporation until year 2.

Partnership first and then once you have enough aside to leave money to grow IN the corp.... then go that route.

Otherwise, you will be paying a very expensive fee first year (500$ to incorporate?) plus $2k for accountant to do taxes.

[Jlude]

Incorporate... think big.

[max_boost]

Originally posted by Jlude
Incorporate... think big.

And then outsource to India?

[Jlude]

Originally posted by max_boost
And then outsource to India?

India, China, Philippines, I've even done some stuff in Argentina also. Location doesn't matter. Find a need and service it.

[black300]

WFG consulting fees.