With excellent online resources and timely registration it is relatively easy to start a small escort business in Saskatchewan. The process is especially easy if you keep your business small and designed to be managed by a limited number of persons. When starting your escort business, you'll want clearly define what your business does, who manages it and who receives profits. The simpler the layout, the easier it will be to register the company and file business reports and taxes yearly. Refer to our article Don't get busted for tax evasion: Why registering your escort business is the only option.
Step four: Register your business / business name
As an escort, chances are you can contain your business to operating Saskatchewan. Doing so means that you register your business on a municipal rather than federal level as you would if you were to see clients in other regions.
With all business models you must first make sure the business name you want to use isn't already being used in Saskatchewan or federally, and that the name is not so close to another business as to be confusing. If you were to register with a conflicting name, that business could challenge your registration and you could be forced to rename your company—an expensive and timely process once you've already started your business. Similarly, you don't want to take on a negative reputation from a similar-sounding company. Before registering your business you'll have to do a name qualification search at the Information Services Corporation: Corporate Registry.
Once you've registered your business you can get your federal BN (Business Number) that will make it easier to register for business taxes and exchange business information between government offices. For more information on obtaining a BN, go to Canada Revenue Agency: Business Number Registration.
Sole proprietorship / partnership
Registering your sole proprietorship and partnership is incredibly easy, and the online service makes registration even faster and more cost effective.
After you've completed the Saskatchewan Plus Search and received a confirmation number that you can do business with your desired name, you then register your business with the Corporate Registry. The forms can be filed online for a $55 fee within 24 hours, or for $65 you can file by mail and receive your registration certificate within 2 weeks.
Detailed information, forms and fees are available at Information Services Corporation.
Corporation
Because of the highly intricate nature of registering a corporation it is strongly recommended that you seek advice/register through a business lawyer. You'll need to know detailed information about the amount of shares, incorporating members, public and private stock options and any functioning restrictions of the corporation.
Once you have all this information together, you'll need to guarantee that no other corporation is functioning under the same or a similar name with your Saskatchewan Plus Search. You can then file your Articles of Incorporation, either online for a $215 fee or by mail for a $265 fee.
Detailed information, forms, fees and links to the online service are available at Information Services Corporation: Forming a Corporation.
Step five: Register for / pay business taxes
- 1. If you are a sole proprietorship or partnership, you'll report your self-employment income on your T-1 General return. Your choice of when your business year ends affects your tax bracket, so it's smart to do some research and consult with a professional when becoming familiar with self-employment taxes.
- You'll need to pay the 5% Saskatchewan PST (Provincial Sales Tax), collected by the Government of Saskatchewan as well as the federal GST (Goods and Service Tax), regulated by the Canada Revenue Agency.
- If you're a corporation, you'll pay federal corporation taxes regulated by the Canada Revenue Agency. If you make above $10,000,000, our hats off to you. But you'll also have to pay the Saskatchewan 12% corporate tax, levied by the Government of Saskatchewan.
- If you have employees, you'll need to report and deduct payroll expenses at the Canada Revenue Agency. This contributes towards employment insurance, the Canadian pension plan and income tax.
- If you have employees, you'll need to provide workers' compensation and enroll your business with the Saskatchewan Workers' Compensation Board.
Step six: Get necessary licenses and permits
You may be required to get a vendor's license if you have to pay the PST or have other additional permits, depending on how you're running your business specifically within your locality. For a personalized guide on which licenses and permits you'll need to obtain, go to the BizPal Service for Saskatchewan.
More information on starting a business in Saskatchewan
Find out how to register an escort business in each state of the USA and by province in Canada.
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.
