[hackerspaces] Hackerspace legal formation and insurance

[Matthew Forr]

Matt,

So you're going to want to look into your state laws but you should probably
go whichever route makes it easiest to file a 501c3 in the future. I think
we've run into the realization that any assets we have are taxable until we
file for non-profit status, IE we're taxed on everything from solder irons
to our MAME cabinet which is no good. That assumes you'll eventually go the
non-profit route; if for profit it seems an LLC would make most sense.

Also, can't see any reason to file as a DBA unless you want one person
carrying all the responsibility (I believe DBA is just a person filing to do
business).

Hope that helps.

-Matt
Baltimore Node

On Sat, May 22, 2010 at 5:17 PM, Matthew McCabe <matt at mrmccabe.com> wrote:

> The Austin Hackerspace is looking at options for forming a legal
> entity and are considering an LLC or DBA.  What legal formation do the
> US based hackerspaces typically use?
>
> Also, we are looking at buying liability insurance to protect the
> founders and members of the space.  Any suggestions on what level of
> coverage we should have?  Or recommendations on companies that provide
> cheap liability insurance?
>
> Thank you for your help!
>
> -Matt
> _______________________________________________
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> Discuss at lists.hackerspaces.org
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>



-- 
-Matthew
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