Ah, Mississippi. The most fun state to spell. The Cotton Capital of the World. The Catfish Capital of the World. The Sweet Potato Capital of the World. The Towboat Capital of the World. You gave us condensed milk and the Teddy Bear. And who could forget that Old Man River, that just keeps rollin along?
Mississippi is also a warm and rich state in which to register your small escort business, and in this article you'll find clear step-by-step advice on how to do just that. For more information on why it's vitally important to register your business, refer to our article Don't get busted for tax evasion: Why registering your escort business is the only option.
For some helpful advice on picking out a business name, visit Business.gov.
Step four: Register your business / business name
Sole Proprietorship:
In Mississippi you are not required to register your sole proprietorship escort business as a separate business entity: because the business is you, it is not recognized as a separate business and you'll file your business information along with your own personal taxes.
You are also not required to register your business name if it is your full name and service: "Jane Doe's Escort Service". However, if you take on any other form of a DBA name, including something as simple as "Doe's Escort Service", you must register a Fictitious Business Name Registration Form (http://www.sos.ms.gov/business_services_feesForms4.aspx). There is a $25 filing fee for this form and it's registered with the Mississippi Secretary of State.
For more information on if taking on a DBA is a good choice for your business, refer to our article Do I want to be a sole proprietor?
Partnership:
In Mississippi you are not required to register your general partnership business as a separate business entity. However, it is highly recommended that you draft a partnership agreement. This is not filed with the state but defines and protects your business should you run into legal trouble. And you will have to file an information return come tax time, so having your books in order is very important. More on that below.
You are also not obligated to register your business name in Mississippi if it is the collected names of the partners outlined in your partnership agreement. But if you choose to take on a DBA name you must register a Fictitious Business Name Registration Form. There is a $25 filing fee for this form and it's registered with the Mississippi Secretary of State.
Corporation:
To register your escort corporation in Mississippi you'll need to file your Articles of Incorporation with the Mississippi Secretary of State. You can find instructions and download this form at the Mississippi Secretary of State: Business Services. You'll include information on the amount of shares for the corporation and the incorporating persons, and include a $50 filing fee. Because of the intricate information required when starting a corporation, it is highly recommended that you seek advice from a business lawyer and accountant.
Registering your Articles of Incorporation will register your business name, so you will not have to file any additional paperwork for this.
LLC:
To register your escort LLC in Mississippi, you'll need to file Certificate of Formation with the Mississippi Secretary of State. You can find instructions and download this form at the Mississippi Secretary of State: Business Services. The form includes basic information about the members and managers of the LLC, and requires a $50 filing fee.
Registering your Certificate of Formation will register your business name, so you will not have to file any additional paperwork.
For more information on these business structures and related requirements, visit Mississippi Secretary of State: Business Services.
Step six: Register for your federal and Mississippi state taxes
There are a few basic types of taxes small businesses in Mississippi may register for.
- Individual Income Tax: If you're a sole proprietor or LLC, you'll file your business profits/losses in a Schedule EZ form that will go along with your personal income tax 1040 form. For more information go to IRS.gov. More information, online filing and downloadable forms can be found at the Mississippi Department of Revenue: Individual Income Tax.
- Business Taxes: All business models have to pay some form of business taxes in Mississippi, either passed through their own income taxes or with a separate corporation return or partnership return. You can find more information and these forms at the Mississippi Department of Revenue.
- Unemployment Insurance: All businesses with employees pay unemployment insurance to safeguard the state's unemployed. More information, online filing and downloadable forms can be found at the Mississippi Department of Employment Security.
- Withholding Taxes: Employers must withhold taxes from employees for their personal income taxes. More information, online filing and downloadable forms can be found at the Mississippi Department of Revenue—Withholding Tax.
- Workers Compensation: If you have employees, you'll have to pay Worker's Compensation. More information can be found at the Mississippi Workers' Compensation Commission.
- Self-Employment Taxes: If you own and operate your business and are not paid as an employee, you'll need to file your own self-employment taxes for social security and Medicaid. This is particularly true for sole proprietorships, general partnerships and LLCs. You can find this Schedule C / 1040 form and get more information at IRS.gov. Get more information at IRS.gov » Self-Employment Tax.
For more information on registration and taxes in Mississippi visit the Mississippi Department of Revenue.
Step seven: Get necessary licenses and permits
There's no specific "escort license" in Mississippi, and chances are you won't need any other permits to conduct your escort service, but it's a good idea to run your city through the IRS's Permit Me tool and get more information about specific filing from their site.
For more information about registering an escort business in Mississippi, consider the following online destinations:
Find out how to register an escort business in each state of the USA.
Related resources:
Please note: Dating.com is not a legal service, nor are we tax advisors or accountants. We do offer you what we consider our best advice, but if at all in doubt, please consult a professional.
