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Updated over 8 years ago on . Most recent reply

Tommy Nguyen's profile image
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Tommy Nguyen
  • from Glen Burnie, Maryland
  • Member since Jul 13, 2016
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Tommy Nguyen
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Tommy Nguyen
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Tax Liens & Mortgage Notes

What kind business category tax code for this?

Tommy Nguyen
  • Glen Burnie, MD
Posted
Hi I'm new Can anyone help me ? I'm borrow performance note and tax certificates. I put all in LLc company . What is category registered for tax ? Do I need license? I'm using Fci services
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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
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  • Springfield, MO
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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
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Replied

If most of you LLC business income is from dealing in notes, yes you need a license, could need several types too. See your attorney. Look in financial services 6199, it depends on what you do. Be careful selecting codes as your business will be viewed on par with others, any large differences can trigger audits. See your accountant. :)

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