It is relatively easy to start a small escort business in the Yukon Territory, and as escort services are few and far between in the area, you'll be ahead of the class by making your business legit with the municipal and federal Canadian government. This process is especially easy if you keep your business small and designed to be run and 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.
Recommended read: Don't get busted for tax evasion: Why registering your escort business is the only option.
For more information on business structures within the Yukon Territory, visit the Government of Yukon Department of Community Affairs » What types of businesses are there?.
For more information on what legally should and should not be in your business name in the Yukon Territory, visit the Government of Yukon Department of Community Services » Name Guide.
Step four: Register your business / business name
As an escort, chances are you can contain your business to operating within the Yukon Territory. Doing so means that you register your business on a municipal rather than federal level as you would if you were to, say, see clients in the NWT or British Columbia, saving you some time and money.
Sole proprietorship / partnership
All businesses in the Yukon Territory must register their business name with the Yukon Department of Community Services. While most provinces only require this if using a DBA name, all individuals conducting business in the Yukon Territory must do so.
To reserve your business name, you must first get the name approved by staff member of the Corporate Affairs office at the Department of Community Services. You can then file a Declaration of Use of Business Names form with a $25 filing fee.
If you are using your own name or the collective names of the partners as your business name, you do not have to continue with further registration.
If you use a DBA name, however, you'll have to file a Declaration of Partnership, which specifies the purpose of the company and information about the partners. If you're a sole proprietorship you'll use the same form, and simply put yourself as the sole ‘partner'.
Once you've registered your business you can get your BN (Business Number) that will make it easier to apply for permits, pay taxes and exchange business information within government offices. For more information on obtaining a BN, go to Canada Revenue Agency » Business Number Registration.
Corporation
To register your escort corporation you'll need to file several things with the Department of Community Services.
- NUANS (Newly Upgraded Automatic Name Search) report: compares your name nationally with other corporations registered. There are many government-approved services that can do this for you, or you can do so through Corporations Canada. For more information and links to services, go to the Government of Canada » NUANS.
- Articles of Incorporation: outlines the purpose of the company, the details of the shares allotted, the number of incorporators and any restrictions that the company must function under.
- Notice of Address: files the physical location of the company.
- Notice of Directors and Officer: specifies the directors of the company and their personal addresses and head officer.
Because of the highly intricate nature of registering a corporation it is strongly recommended that you seek advice / register through a business lawyer, especially as fees, dues dates and forms often change and are not always available online.
Step five: Register for / pay business taxes
- If you are a sole proprietorship or partnership, you'll have to 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 and small-business taxes.
- If you're a corporation, you'll pay both municipal and federal corporation taxes, which now stand at 4% and 11% respectively (for corporations who make less than $400,000 yearly). This tax is administered through the Canada Revenue Agency, but updated and relevant information is best found at the NWT Department of Finance.
- 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 Yukon Worker's Health and Safety Board.
- As an escort providing a service, you may have to apply the federal GST (Goods and Service Tax) on to your service, which currently stands at 5%. For more information consult a business lawyer or go to the Canada Revenue Agency. Lucky for you there is no provincial sales takes in the Yukon Territory.
For more information and answers to common tax questions, go to the Yukon Department of Finance.
Step six: Get necessary licenses and permits
You may be required within your municipality to have additional licenses or permits on top of your basic business registration, depending on how you're running your business specifically within that locality. For a personalized guide on which licenses and permits you'll need to obtain, go to the BizPal Service Yukon Territory.
More information on starting a business in the Yukon
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.
