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My question involves business law in the state of: NY
My family and I are looking to start a business with regards to an outdoor motocross riding facility where we will charge both riders and spectators to attend. Everything is pretty much in place but we need additional money to tie up the loose ends, finalize permits and finish the facilities.
We have been offered donations that we have turned away because we don't have a DBA set up yet. We are in the process of filing for a DBA so that we can accept donations but i'm not sure of the legality of accepting donations or for holding fundraisers to raise money to complete the project. We are still finalizing getting approval from the town for our special use permit, so we are not able to begin operating(which would allow us to take in revenue-ticket sales) but we have had neighbors offer to hold fundraisers at their homes. I have read that we can accept donations but since we are not a non-profit business, the donation is not tax deductible for the donator. We really do not want to take out any loans or bug family members for the remainder of the necessary money, but may be a last ditch effort if needed. We were hoping to file for a DBA, start accepting donations and holding fundraisers to raise the last bit of money.
We've even had several people offer to buy track memberships up front for riding privileges once we are allowed to operate. Is this allowable?
Any info is greatly appreciated.
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