TexasCHLforum.com

I overreacted, a bit on purpose I suppose... I apologize.

I made a recommendation, and your post said (my interpretation) "yeah, but you can still get sued".

I felt that your comment would lead folks potentially to believe that forming a legal corporation would be time and money spent for nothing, because "you can still be sued"...

I agree with you that anyone can sue you for anything, whether their case has merit or not. That's why we need "loser pays", but that discussion is for a different thread...

However, there is very real personal liability protection provided by forming a corporation. I believe strongly that being in a firearms related business without using a corporate entity is a HUGE risk. Is a corporation fail-safe? Certainly not. But it is IMO irresponsible (to yourself, your family, etc.) not to have it. Yes, "you can still get sued personally". But you have a much better chance of keeping personal assets safe by operating from within a corporation. $300 for formation, get an EIN from Uncle Sam and Uncle Perry, set up a separate bank account, file some extra paperwork each year. A small hassle for big protection, IMO, YMMV.

Of course all of this is my personal opinion, not legal advice as IANAL.

Peace...

Firstly.... Anyone can sue anyone. But winning the suit is another matter. And which entity pays is yet another.

Do you REALLY think that doing business as a corporation provides NO benefit re: personal liability protection? It's just a waste of time and filing fees? That all the millions of business owners are fools for registering their business instead of operating as individuals under an assumed business name (DBA)?

I'll not argue with you, except to say that I disagree in the strongest (but polite ) way.

I would not operate ANY business, especially a business involved with shooting firearms, outside of a registered business entity. YMMV

Cheers.

IMHO you should set up a separate company (legal business entity registered with the State) to do this business.

As an individual using a DBA you have no protection from anyone that might sue you for a business reason, or from any accident that might happen during your class. You're in a business that involves firing guns. Even if you have liability insurance, if you do not have a separate business entity and have a judgment against you in excess of your insurance limit, the prevailing party can take your personal assets as well. Setting up a separate legal entity puts up a wall between your business life and your personal life that judgments typically (not always) cannot cross...

I am not a lawyer, just a business person. This is my personal opinion, not legal advice.

Good luck with the business.!!

EDIT: http://community2.business.gov/t5/Busin ... ba-p/29393" onclick="window.open(this.href);return false;

* Liability Protection
When you register your business, you will declare a business structure (LLC, non profit, S-Corporation, etc). Your business structure determines the amount of regulatory paperwork you have to file, the taxes you have to pay, and your personal liability regarding investments into your business. Certain business structures, like LLCs and corporations, provide personal liability protection for business decisions or actions of the LLC. This means that if the LLC incurs debt or is sued, its members are not required to satisfy the claims with their personal assets.

Limitations: http://en.wikipedia.org/wiki/Piercing_t ... orate_veil" onclick="window.open(this.href);return false;

Assistance: http://www.sos.state.tx.us/corp/related.shtml" onclick="window.open(this.href);return false;
Cost is $300 to register an LLC in TX..... Well worth it...
Oh.. and... Quickbooks is a million times easier to use than Peachtree. DAMHIK