Canadians

Brad Mills · January 24th, 2005, 10:06 PM

Hello, I'm about to register a company for an upcoming production. I'm not quite sure how to go about it though.

I'll be registering in Nova Scotia, but is it ok to register a Sole Proprietorship? Or will that defeat the purpose of making project specific companies? What's the difference between incoporating, and what exactly does it mean to have an LLC?

I've read lots on it, but I've never really grasped the concept, and I don't have the money to hire a lawyer to explain it to me.

Thanks guys for any help you can give me

Mike R Long · June 15th, 2005, 06:52 PM

Hey Brad,

The best and fastest way to register a company name is going to your local Access Nova Scotia Building or DMV. There you can set up the search for your company name which is around 50 dollars cdn and then check back in roughly 3-4 days and see if the business name you want is available. If it is, they will give you all of your information you will need and they will register the business right there for you. It costs an additional 50 dollars and your business name is then registered for 1 full year. They can also give you a business number right then and there as well to start buying wholesale or and for tax purposes. They give you a nice shiny piece of paper stating the name that you registered and how long it is valid for. You will have to register the company name every year for 50 dollars and you do not have to do the search again. Other than that you are set. Now usually you would go Sole Proprietorship unless you have a partner in the business. If I were you I would register the name as your business and which would cover all of the movies you do rather than doing a bunch of project specific companies. Alot less time and alot less money.

Also Incorprating the business just means that you will be paying like 1700 dollars to make you not accountable, personally, if you get sued or cannot pay back loans. The business goes under and your personal credit it not effected. When you Incorporate a business you can also sell shares in your business which is good when you need to get money for the business. Incorporating your business is good but is not needed. You can do fine with just the business name itself.

LLC = Limited Liability Corporation is the exact same thing as a Corporation and once again this just means you and the shareholders have no liability during a time of legal matters. It just a higher state of Corporation.

Brad Mills · June 16th, 2005, 12:42 PM

Hey thanks for the info Mike. Yeah I figured most of that out since I wrote that back in January =P If I get finding I'm going go the incorporated route, that way I can sell shares and if something happened I won't be personally responsible, but if I don't get funding then I'm just going to try to register a Sole Proprietorship.

Give me a call some time, I'm doing a casting call July 2nd & 3rd, starting to do advertising for it. Ashley's involved as well, so if you or Robert want to come and take part in it, I'm sure me & Ashley won't mind =P

Mike R Long · June 16th, 2005, 01:44 PM

Sounds great, we have one more weekend of shooting Morrow, so now we can get alot more done with you guys. We just have alot of editting ahead of us. Is the casting call for ranger or just some shorts?

Also I noticed that you do comedy writing. Robert and I may have a proposition for you if thats the case. We're shooting this weekend so if I'm in Sydney I'll pick ya up. :)

Brad Mills · June 16th, 2005, 02:06 PM

The casting call is for Psycho Forest Ranger, Ashley's movie Marvellous Man, and some shorts we're just going to film.

Yeah I do a lot of comedy writing and I'm open to propositions =P Give me a shout if you want, you know my number =)

January 24th, 2005, 10:06 PM	#1
Brad Mills Regular Crew Join Date: Jan 2005 Location: Sydney, NS / Toronto, ON Posts: 41	Canadians - Business Registration Help Hello, I'm about to register a company for an upcoming production. I'm not quite sure how to go about it though. I'll be registering in Nova Scotia, but is it ok to register a Sole Proprietorship? Or will that defeat the purpose of making project specific companies? What's the difference between incoporating, and what exactly does it mean to have an LLC? I've read lots on it, but I've never really grasped the concept, and I don't have the money to hire a lawyer to explain it to me. Thanks guys for any help you can give me

June 15th, 2005, 06:52 PM	#2
Mike R Long New Boot Join Date: May 2005 Location: Sydney, Nova Scotia, Canada Posts: 7	Business Registration Hey Brad, The best and fastest way to register a company name is going to your local Access Nova Scotia Building or DMV. There you can set up the search for your company name which is around 50 dollars cdn and then check back in roughly 3-4 days and see if the business name you want is available. If it is, they will give you all of your information you will need and they will register the business right there for you. It costs an additional 50 dollars and your business name is then registered for 1 full year. They can also give you a business number right then and there as well to start buying wholesale or and for tax purposes. They give you a nice shiny piece of paper stating the name that you registered and how long it is valid for. You will have to register the company name every year for 50 dollars and you do not have to do the search again. Other than that you are set. Now usually you would go Sole Proprietorship unless you have a partner in the business. If I were you I would register the name as your business and which would cover all of the movies you do rather than doing a bunch of project specific companies. Alot less time and alot less money. Also Incorprating the business just means that you will be paying like 1700 dollars to make you not accountable, personally, if you get sued or cannot pay back loans. The business goes under and your personal credit it not effected. When you Incorporate a business you can also sell shares in your business which is good when you need to get money for the business. Incorporating your business is good but is not needed. You can do fine with just the business name itself. LLC = Limited Liability Corporation is the exact same thing as a Corporation and once again this just means you and the shareholders have no liability during a time of legal matters. It just a higher state of Corporation. __________________ -- Mike Long Co-Founder/Producer Prince Mike Pictures http://www.princemikepictures.com

June 16th, 2005, 01:44 PM	#4
Mike R Long New Boot Join Date: May 2005 Location: Sydney, Nova Scotia, Canada Posts: 7	Sounds great, we have one more weekend of shooting Morrow, so now we can get alot more done with you guys. We just have alot of editting ahead of us. Is the casting call for ranger or just some shorts? Also I noticed that you do comedy writing. Robert and I may have a proposition for you if thats the case. We're shooting this weekend so if I'm in Sydney I'll pick ya up. :) __________________ -- Mike Long Co-Founder/Producer Prince Mike Pictures http://www.princemikepictures.com

June 16th, 2005, 12:42 PM	#3
Brad Mills Regular Crew Join Date: Jan 2005 Location: Sydney, NS / Toronto, ON Posts: 41	Hey thanks for the info Mike. Yeah I figured most of that out since I wrote that back in January =P If I get finding I'm going go the incorporated route, that way I can sell shares and if something happened I won't be personally responsible, but if I don't get funding then I'm just going to try to register a Sole Proprietorship. Give me a call some time, I'm doing a casting call July 2nd & 3rd, starting to do advertising for it. Ashley's involved as well, so if you or Robert want to come and take part in it, I'm sure me & Ashley won't mind =P

June 16th, 2005, 02:06 PM	#5
Brad Mills Regular Crew Join Date: Jan 2005 Location: Sydney, NS / Toronto, ON Posts: 41	The casting call is for Psycho Forest Ranger, Ashley's movie Marvellous Man, and some shorts we're just going to film. Yeah I do a lot of comedy writing and I'm open to propositions =P Give me a shout if you want, you know my number =)