The business will operate as a limited liability corporation (LLC).
~A Limited Liability Company (LLC) combines the tax flexibility of a partnership with the personal liability protection of a corporation. LLC owners report their share of business profit and loss on their personal tax returns, similar to tax reporting for a general partnership. Forming an LLC can help separate yourself from your business, protecting your personal assets in the event of a judgment against the company.Owners of a LLC have the liability protection of a corporation. A LLC exists as a separate entity much like a corporation. Members cannot be held personally liable for debts unless they have signed a personal guarantee.
The retail store will be located in Nashville, TN and I will maintain a website to keep customers informed but will not sell merchandise from the site.~The store will be located in the Music Row area of Nashville. The rent will be $3066 per month
Insurance: The annual premium rate for general liability and fire and extended coverage for a business with a value of $250,000 would be $977.
http://www.cityfeet.com/Commercial/ForLease/greenhillscommercialrealestatelocal/2222-12th-Avenue-S-Nashville-TN-37204-15708510L1751888L0.aspx
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