7 Steps To Starting A Business
If you are setting up a company, you will need one or more business licenses and tax ID
. After reading this article you will know what business licenses you need to start a business.
First, regardless of the companys start, you need a business license.
There are some companies that do not need it, but only 1% or less in proportion to the percentage of firms that need a business license. So if your business is a home business, an
Internet business online,a construction company or a professional corporation, like a doctors office, you need a business license. Requirements for business licenses are required in addition to a fee, you may need to state if you are a professional like a lawyer or a hairdresser. Depending on the location of your company or type of
business, the company submitted to the state, county or municipal level of government .
Secondly, if you use the name of the company, not including your name, you must have the DBA (Doing Business As).
If your company name includes your name, but also includes a suffix such as & Co. or and Associates or something that denotes additional business owners must file a DBA. You may also file a corporation or LLC instead of filing a DBA, but this can be a bit more expensive. However, even if you have a corporation or LLC, and the name of the company or LLC name is different from company name to be used for
business, you must file a DBA.
Third, if your company sells or rents taxable items or services, you must obtain a state sales tax ID (also called a sellers permit, wholesale trade, retail license or permit resale).
You will need a tax identification number of sales for the bulk purchase, or if you are a wholesaler, you need to sell wholesale. For example, if you have a toy store you can buy wholesale without paying taxes on toy wholesaler and then the tax burden to its customers by selling toys.
Fourth, if you hire employees, you must obtain a federal tax identification number of the employer and the employer indicating the tax identification number.
These numbers are required if you are an employer. Taxes are paid both the use of federal and state.
Fifth, if youre running a serious business, you have to do a name search at the national level.
If you become a national company, it may be necessary to ensure that no one else is using the company name to be used for your business. How to acquire the rights to the use of a brand name to sell products or provide specific
services and the use of a specific brand in a region of small or large, as a national area. For example, if you are selling Scandinavian furniture in Minnesota under the trade name Scandinavian furniture goods, which acquire certain rights on behalf of the company in Minnesota. If another company in Minnesota decides to sell the same type of furniture with the name of your company, you can sue to ban the use of their name.
Sixth, get the cheapest insurance business, incorporate your business or form a limited liability company (LLC).
You need not be included, or form an LLC, but its a good idea to do it, because the company or LLC is a separate person or a legal person. File a DBA, does not protect personal property. If, however, incorporate or form an LLC, and someone challenges your decision against the Corporation acquires your company, can be sentenced only to owner of the policy not your personal assets, like home. Contain, or form an LLC is the best way to protect your personal assets.
The last step is to take you to the DBA or the certificate of the companys bank and use it to open a business account and merchant account control.
You will use these accounts to cash business checks written to your company name and use the merchant account to run credit card transactions.
by: Yasir
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