And so it begins February 2, 2009Posted by truthspew in Uncategorized.
Today I setup my business account at the bank. Once I get the debit card for the business account I’ll setup with the Sec. State’s office for my LLC.
It’s just a computer and business consulting firm. Thus far I’ve done my contract between the company and clients, then a non-disclosure/exclusivity contract between the company and consultants. I’ve also put together an advertising plan, a five year plan and much more.
What irks me most is that the state of Rhode Island charges businesses a minimum tax of $500 per year. Used to be $250 and before that nothing. But they’re getting desperate and I can see the minimum rising to $1,000 a year sooner than later.
This brings me to my rant against the government in Rhode Island. Our legislators cannot understand that small business is the bread and butter of the state. They’ll give away tax breaks and credits to businesses that least need it, such as Bank of America, or Fidelity. At the same time they give a paltry $300,000 to R&D projects in technology and sciences.
At the current time it is very much like an inverted triangle with those least in need getting the biggest bite. I say flip it and let them take the smallest bite.
I realize that the reasons behind the breaks for those who don’t need it is because of the lobbyists. BofA and Fidelity can afford the very best. What can small business owners really afford?