<p>I'm a high school Junior right now, soon to be senior, and I have been running my own small business for about a year now. I was looking into registering my business with the state, but it's a lot more trouble than I thought it would be. So here are a few questions I have. </p>
<p>1) Will the universities care if my business is registered with the state or not?
2) Do I need a website?
3) Do I need some form of legitimacy to my business, such as a registered name or whatever. Not sure if that's the same as #1. </p>
<p>Just outline your business type (service, mechandise, etc.) and your annual revenue and profit. They’ll take your word for it.</p>
<p>BTW: since you’re a minor, people understand that you are not legally allowed to sign any contracts. And they know the “size” of your business is therefore small.</p>
<p>But also, I wouldn’t expect some huge “WOW” factor unless you’ve got some huge revenue stream or have made a big impact in an industry. Be realistic about what the business is: there was a poster a week ago who insisted on calling himself the “CEO” of some company. Universally, people told him that was presumptuous of some 16 year old with out an incorporated entity.</p>
<p>Good luck to your college searcha nd your business</p>
<p>T26E4, yes, I saw that post. Thanks for the good wishes. As for my business, you’re correct that it’s not a major revenue generator or even in a high impact area. It’s just a business buying and selling a certain collectible that I enjoy to a niche of collectors.</p>
<p>But thanks for the reply, exactly what I was looking for!</p>
<p>I have the same situation…my incomes were not taxed because it was under 15 k$ a year.
If it is not current business will it affect my fin aid? and how much?</p>
<p>Great questions and great initiative. That won’t matter unless you are legally required to register your type of business. Talking about your business and proving you have been successful is enough.</p>