store is lesser tax than on a trading
@leon3000502000 (1564)
Philippines
June 29, 2012 9:13am CST
I am going to start a rice and corn retailing and wholesaling business and I am now in the process creating a good business name. I just came up with this business name: BMAC's STORE and BMAC'S TRADING. I like BMACS TRADING but my parents wants BMAC's STORE. one of the reason that they like the store name bacause I can less on tax compare on a trading name. what do you think? are my parents right? the tax on a store is lesser than tax on trading?
what can you say about my business name?
4 responses
@mamaleone (59)
• Hungary
29 Jun 12
To the best of my knowledge, a trade name is to be registered and marked with (R) in a circle. Maybe more tax is imposed on the stores having trade names than on ordinary ones. I do not know this part, but one thing is for sure:
calling your store BMAC's Store or BMAC's trading does not make a difference from this point of view.
@leon3000502000 (1564)
• Philippines
6 Jul 12
really. so it doesn;t matter if BMAC's is called a store or a trading?
which do you think would be best?
I think BMAC's store is good to make it just simple and small as it looks.
@mamaleone (59)
• Hungary
6 Jul 12
Hi,
I also like BMAC's store best.
Again, I suppose as long as it is not a registered trademark (marked with an R in a circle), only an ordinary (legally registered) business name it does not matter whether you call your business a "store" or a "trading" from taxation point of view.
You may investigate further on the web or with your Tax Authorities.
Good luck with your business!
1 person likes this
@leon3000502000 (1564)
• Philippines
6 Jul 12
thank you for the support. I got it now.
Now instead of renting a building I decided to start my business at home first because I am starting out and that I can save from building renovation and rental.
so my problem now is the vehicle to use for delivery of prooducts.
@akash009 (452)
• India
1 Jul 12
hi,
First of all I want to say good luck for your future projects and congrats in advance. I dont have much idea about the problem you asked but I think your parents are right. You should listen to them, it will definitely help you. You can ask some other person who has sufficient knowledge about this. so good luck once again.
1 person likes this
@leon3000502000 (1564)
• Philippines
6 Jul 12
great. that is what i am doing right now. I am listening to them. since when i need help i automatically go to them for help.
@jkct02 (2874)
• Kota Kinabalu, Malaysia
29 Jun 12
If you are going into business, don't you think you have to know all these tax issues? If the difference in one word in the name can have an impact on the tax you are going to pay, don't you think you will have a different perspective in naming your new business? So it is not about to "like", rather it is about being "practical". I feel that a good name should be one that your customers can remember easily and can relate to the merchandise you sell.
1 person likes this
@sherrybelle (707)
• United States
29 Jun 12
I don't know about the tax thing on either store; however, I can tell you that I like the name BMAC'S STORE best.
Trading is a word that indicates you might be will to barter. Trading gives me the impression that I might be able to trade beans for rice or corn.
If you want people to spend money and you want to collect money I thinks it's best to use the word STORE.
Good luck with all that you do!
1 person likes this
@leon3000502000 (1564)
• Philippines
6 Jul 12
you have a good idea shared. i liked it.
I think store is more simple and more smaller compare to trading.
what i like with trading because i buy rice and sell it for profit. that why i like more on trading. but since I am still starting out and trying to build the business so i decided to name it as a store rather than trading.
