What is the name of your state? OH
I am working on my business plan, but have a property that is in the ideal location and I do not want to loose it. If I incorporate now and get a tax id so that I can get a loan against the company to buy the land. What are the implications (tax or otherwise) if I do not build the building and start the business right away? I have to finish the business plan, order the equipment, building the building, etc. So I may not even open the doors for about a year. If anyone has any advice it would be welcome.
Thanks!
I am working on my business plan, but have a property that is in the ideal location and I do not want to loose it. If I incorporate now and get a tax id so that I can get a loan against the company to buy the land. What are the implications (tax or otherwise) if I do not build the building and start the business right away? I have to finish the business plan, order the equipment, building the building, etc. So I may not even open the doors for about a year. If anyone has any advice it would be welcome.
Thanks!