What Is a Real State Business?
A Real state business is any business whose principal activity is conducting trade or receiving revenue in a real state. Real estate is real property consisting of the actual structures and can ho bien hoa universe land on it, and its accompanying natural resources like water, minerals or plants; or an intangible interest in a product of such nature. Some of the most common real states are: personal property of the owner, corporate business interests in factories, farms, franchises, and real estate holdings. A Real state business may also be comprised of the real properties used for business, like warehouses, garages, store fronts, shopping centers, and repair shops.
Some business professionals refer to Real estate investments, which are almost always part of a larger portfolio, as an S corporation. An S corporation is a legal corporation that can exist only for the benefit of its shareholders. In other words, all Real state business must be publicly conducted. If a corporation is formed in a non-regulated area, some state laws may not require it to be licensed. All Real estate businesses must register with the secretary of state in the county in which they propose to do business.
Franchise laws vary from state to state, but in many cases, business owners must apply for a Franchisor License and pay a franchise fee to acquire and maintain a Franchisor’s license. A Franchisor license is most often associated with certain types of industries, including restaurants, movie theaters, hotels and health care facilities. Businesses may be licensed to sell their products and services, but they may also sell other products and services in conjunction with a Franchisor’s products and services.
Business enterprises that have been deemed “profit” by the state’s business bureau, or that have been approved for participation in a Self-Reliance Program, are then considered to be conducting business as a Sole Proprietorship. For example, real estate closings, financial planners, insurance agents, and real estate managers are all examples of services that can be performed as a sole proprietor. Although these services can help an individual achieve wealth, they must operate as a separate entity from the owner.
A corporation requires filing articles of incorporation with the state business bureau, along with the annual General Meeting, reports filed with the Secretary of State and a majority vote of the Board of Directors for five years. A corporation may be operated by any number of different individuals, although only one shareholder at a meeting is required. Corporations are required to register their names in the appropriate form with the secretary of state, and obtain a certificate of authority from the county clerk. This gives the secretary of state the authority to administer the company if the corporation has any issue or question regarding its operation. A corporation also must follow all laws enacted by the state including taxation.
Real state business law also requires corporations and LLCs to file an annual report with the secretary of state showing how they have performed since the last year’s report. This shows a community how the company has grown and what direction the business is currently going. For example, the business may have added new employees or expanded its product line. It also shows how the community benefits from the corporation’s goods and services. This information allows the secretary of state to review the corporation for approval, and if necessary, revoke its registration.