When did you form a business entity?

So my online business is starting to take off a bit. In August, I'm crossing the $300/month mark for the first time ever, and I hope to take that number to well over $1,000 by next year.

I understand that it may be best to form some type of business entity (LLC or corporation) for liability protection and tax benefits. Note that I am a US citizen residing in New York.

I was just wondering at what point people chose to form a business entity - was it crossing a revenue line? Or when you got really serious?

 

I did it after I started making a few hundred bucks a month. It was rather easy. Just walked into the licensing office and got my business license after filling out a form

 

I have not yet reached that point but i see that time is very close to me. So i think it is good to form a business entity when you get settled with a good steady income. Its better not to jump right after first pay check. Also you need to have good strategy on how you are going to keep your business functioning. You need to constantly fuel it to run (marketing). Then you will eventually need to form a business and get it registered to handle income tax related things.

 

I filled my LLC. in 4 states when I first formed my hosting company but hosting is a very risky business so its smart to do so.

 

I formed it right away, its too difficult to disentangle personal vs company finances, best to do it in the beginning than trying to backtrack.

 

I incorporated my business in year 2009, its a great feel of being registered and working lawfully. I incorporated my business after 4 successful years of business. Fortunately, i got the same name i wish to book for. But i live in India, so the laws will be different to your country.

 

Dose anyone form it online ? and which best site to do it so ?