Greed, it isnt just for the rich anymore.

HereToday

New Member
Really? Ok, so you dont have to get an EIN? Isnt that a federal requirement? If you are not familiar that means (Employer Identification Number). It is what you use on all your tax forms.

If you are going to have employees you have to file paperwork initially and at least quarterly if not monthly for FICA (federal witholding) and FUTA (federal unemployment). You are also required to match 7.5% of social security witholding, etc....

Hmmm... just one federal regulation?
So which business that you would start wouldnt you have to get a EIN?
If i open a hair salon, auto repair shop or a restaurant and have a payroll
Which of these wouldnt I have to deal with Tax reporting requirements?

Opening a restaurant has nothing to do with any federal licensing requirements. Unless you serve alchohol. In that case you need to buy a tax stamp.
 

NLXSK1

Well-Known Member
So which business that you would start wouldnt you have to get a EIN?
If i open a hair salon, auto repair shop or a restaurant and have a payroll
Which of these wouldnt I have to deal with Tax reporting requirements?

Opening a restaurant has nothing to do with any federal licensing requirements. Unless you serve alchohol. In that case you need to buy a tax stamp.
It is not about the restaurant it is about all the regulation and legislation required to start and run a small business. That is part of the problem with our jobless rate today. It is too expensive to comply with all the tracking, regulation, etc.
 

redivider

Well-Known Member
getting an EIN isn't hard. in most states, you'll get in while registering a business. i've gotten about 5 of them and I shit you not it takes maybe 15 minutes and costs right around $150 to get started.... oh my god! those evil government crooks taking those taxes and divesting it to all those who worked their assess off and also paid SS taxes..

businesses have been paying payroll taxes for years, and for years they've recorded profits time and time again....

it's not the regulation... it's the lack of demand, because of a lack of disposable income that has been extracted from the middle class and funneled into the pockets of the select few.....
 

HereToday

New Member
It is not about the restaurant it is about all the regulation and legislation required to start and run a small business. That is part of the problem with our jobless rate today. It is too expensive to comply with all the tracking, regulation, etc.
Not much regulation at all. Sorry.
Question. When you go out to eat. Do you feel safe eating the food you are eating?
 

NoDrama

Well-Known Member
I read them. These are all regulations for the manufacturing and distribution of food.
A restaurant wouldnt need to deal with any of these.
Are you implying that burger joints are not restaurants?

lets not forget about regulations on labor, most burger joints have people working in them.
 

HereToday

New Member
Are you implying that burger joints are not restaurants?
No but the link you give is for regulations regarding manufacturers of foods. Like Cannerys, slaughterhouse, Dairys (not as in farms but the processors)

Burger joints and restaurants do not need any of these regulations.
 

purklize

Active Member
It is not about the restaurant it is about all the regulation and legislation required to start and run a small business. That is part of the problem with our jobless rate today. It is too expensive to comply with all the tracking, regulation, etc.
I guess that's why the economy is now booming after 30 years of deregulation.
 

NoDrama

Well-Known Member
30 years of deregulation of what?
yeah I didn't get that part either. The reality is that there are about 3 times as many regulations now as there were in 1982. I figure he thinks that the financial deregulation (Graham Leach Bliley) means that they deregulated ALL the financial regulations, all 1 million+ of them.
 

Brick Top

New Member
It is not about the restaurant it is about all the regulation and legislation required to start and run a small business. That is part of the problem with our jobless rate today. It is too expensive to comply with all the tracking, regulation, etc.

I can give an example of that and how it can keep a business from ever being started.
The lake I live on is a man-made reservoir. Since the level fluctuates there is a strip of land around it that is under control of the U.S. Army Corps of engineers. There were four locations around the lake that were designated as locations were marinas could be built. My ex-business partner and I at one time, in the past when we owned a marina on the lake, explored the idea of opening up another on the one last piece of land designated for a marina.

What we found was that feasibility and environmental impact studies had to be made first for the U.S. Army Corps of Engineers and the EPA and also the State of Virginia (since that location on the lake is in Virginia) Each wanted a separate study done, they would not all accept a copy of just one. At the time a single study would have cost us slightly over $10,000.00, so in the end we would have paid over $30,000.00, and if just one of the three said no, we could not build. So that means we would have had to risk over $30,000.00 just for a possible chance to be able to open another marina. Even though the land was designated for a marina when the lake was built there had been so many regulations put in place since that meeting just the first one was a large and risky expense. We also found that what was allowed at the other marinas on the lake would not be allowed at a new one. Certain regulations had been added but the existing marinas were given a grandfather type clause and for as long as whatever it was that had become unacceptable could me kept in use the other marinas did not have to upgrade. So the cost of building a new marina would have turned out much higher than any of the others, and not only due to inflation over the years, and instead largely due to large numbers of regulations that would need to be met.

We gave up and it is now roughly 15-years later and no one has yet built a marina on that site.

One would have created jobs and increased the local tax base and drew more people to the area who would have spent money which would have helped the local economy. It would have also created work for many different various businesses who would have built what we intended to have and boat companies and outboard engine companies would have received more orders for what we would have stocked and sold, so those people in those areas would have benefited too along with their local economy and that of their State.

All that, and much more not mentioned, never happened, was lost, due to not only regulations but redundant regulations required by multiple governmental agencies/groups/State.

At some point the U.S. became regulation insane. There are far to many and some are overlapping ones and others are just redundant ones that are not needed.
 

canndo

Well-Known Member
The only federeal requirement for opening a restaurant:
If you are planning on serving alcoholic beverages in your restaurant, you will need to deal with the Bureau of Alcohol, Tobacco, and Firearms. You are required to obtain a Special Occupational Tax Stamp to serve alcohol. This is not a license, but a receipt showing you paid for the stamp.

http://www.startingarestaurantguide.com/legal-issues/25-federal-agencies-you-will-deal-with

As far as the rest of your argument that you inhibit competition with Payroll
Everyone is required to file taxes
If everyone is required to pay. Then everyone is on equal footing so therefore you have no point of contention

That is what I said dude, these requirements don't inhibit competition.
 

redivider

Well-Known Member
yeah you were going to build a marina, a capital investment of around 500,000-600,000 dollars and were held back by 30,000 in environmental risk studies you would've had to pay for anyways for insurance purposes....

FANTASYYYYYY
 

NLXSK1

Well-Known Member
yeah you were going to build a marina, a capital investment of around 500,000-600,000 dollars and were held back by 30,000 in environmental risk studies you would've had to pay for anyways for insurance purposes....

FANTASYYYYYY
The point is that 30K might have just flown out the door with no compensation.

You dont understand that part?

That is a large risk with a huge downside.

Would you like to pony up the (now likely) 60K for the studies?
 

redivider

Well-Known Member
that's pure bullshit... that's the nature of the beast in the US...

he says he had to do it because of the 'regulation'.... motherfucker you would've had to complete the study to make the area insurable anyways.... lol
 

NLXSK1

Well-Known Member
that's pure bullshit... that's the nature of the beast in the US...

he says he had to do it because of the 'regulation'.... motherfucker you would've had to complete the study to make the area insurable anyways.... lol
And nobody has yet to spend the money required. And thus lack of economic opportunity.

It is the regulation that inhibits the business.
 

redivider

Well-Known Member
i guess you choose to ignore the part where in order to get capital financing you need insurance and for this type of development to get insurance you need to complete environmental risk studies....

the study would've had to be done anyways.... blame the regulations all you want.... nobody has spent the money to build a marina for any number of reasons... you just pick regulation because you are uneducated as to what the actual reasons might be....
 

NLXSK1

Well-Known Member
i guess you choose to ignore the part where in order to get capital financing you need insurance and for this type of development to get insurance you need to complete environmental risk studies....

the study would've had to be done anyways.... blame the regulations all you want.... nobody has spent the money to build a marina for any number of reasons... you just pick regulation because you are uneducated as to what the actual reasons might be....
I guess you chose to ignore the part where it was a man made lake with marina spots engineered around it to begin with.

And you chose to ignore the part where it is additional legislation requiring massive environmental impact research on top of the previous man-made design that prevents any economic activity from occurring in a location where it was expressly designed to happen.

This type of thing is occurring more and more due to legislation that makes businesses cost too much to start or take too long or both. Apple computers could no longer be started in a garage according to the founders of the company. Do you think they made that statement up?

Have you ever started or tried to start a business?
 
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