How do you file for your insurance business

Abctx

Expert
67
Can anyone in here help me please
I have open incorporated through secretary of state for my business 3 years ago but everything I got paid is under my tax ID which is my SS#. So every year I filed my corporation tax, I report $0 because when I do contract with carrier, I filled out under my name and tax ID.
I was confused and lost on how to filed because I don't have a physical address for my business, I always using my home address.
My questions before I can fixed everything is. Can I now do an assume name for myself and using my home address for everything. Then under my corporation, I used that assume name to register for my agency license and everything will be under my home address ?
I need to correct everything so I can change all my business income to my corporation instead of my personal tax ID for next year tax.
I've been doing research on this but couldn't find it. So if anyone in here file your business under a corporation from your home address can guide me through on correct way please.

Any help or feed back would greatly appreciated.!
 
It sounds like you have never requested a TIN (Tax Identification Number) for your Corp. Home address or not, it doesn't matter. Once you get your TIN you can get your Corp Insurance License and re-contract with each company under your Corp name with you being LOA (Licensed Only Agent) to your Corp.
 
Thank you Todd for your feedback. I did applied for EIN # at the time of filing corp entity. I just didn't know that I have to apply for an agency license under that entity. and I thought I have to have a physical business location for an agency license. So I keep on waiting for finding a place to get everything done.
Don't want to wait any longer so I did called TDI department today and get everything solved. Thank you :)
 
Just throwing this out there...

Some health carriers (no clue what you sell) have a really difficult time making this transition on the commission side. It will get fixed, but in the interim, you won't be getting much. I would make sure your cash flow is in order and not do every carrier all at one time.
 
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