Should I get a business license regarding my notary services?
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Should I get a business license regarding my notary services?
I am a notary through my workplace. All services I provide there are free of charge as a benefit provided to them as the company paid for me to obtain my notary commission. Outside of that sphere, I have been asked to provide some simple notarial services for friends an neighbors – signatures, a wedding, etc. Do I need to obtain a business license for anything I do, if I am notplanning on incorporating, filing a fictitious name, forming a full time business, etc? Would be accepting cash only fee, and have already obtained a Business Tax Receipt for the county. What about for IRS?
Asked on October 5, 2010 under Business Law, Florida
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
The requirements for being a Notary vary from state to state and some - like Florida it appears - require bonding. Are you bonded separate and apart from your job? That would be my first concern. I think that you would bed to obtain separate bonding. You notary license is technically your "business license" here as there is no requirement from what I can see that you be a corporation, etc., to be a notary. You can accept cash and keep a record of the transactions that coincides with the county records you are keeping. They are reportable income to the IRS. You can report the income under yort social security number. I would double check all this with the Florida Department of State (http://www.flgov.com/) and your accountant. Oh and yes, I am assuming it will not get you in to trouble with your boss. Good luck.
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