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Where Life, Love & Insanity All Come Together
Where Life, Love & Insanity All Come Together
Where Life, Love & Insanity All Come Together
Registering a Business
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How to Register a Business
Do-it Yourself
After you have decided on a business name and have checked to see if no one else has it, you need to register your business. Registering your business gives you the exclusive right to use it and it is what will identify you for legal and tax purposes. The Registration process is not hard, but it does take a little time and some attention to detail. If you are trying to save a buck and have the time to do it yourself, most people should be able to pull it off on their own. Here's how to go about it:
1. Decide on a name and check to see if it's already registered. Check with your city and county for permits and special licenses needed outside of State and Federal requirements. When checking for a name, search your county clerks office for a DBA if you are just doing a sole proprietorship, then check your State's Secretary of State or Department of Commerce site (find you state here)
2. Decide what form of business entity you are going to establish. There can be great tax and legal benefits to establishing entities other than sole proprietorships. There are significant differences between a LLCs, LLPs, non-profits, S-Corps and C-Corps,Check this guide for help choosing a business structure.
3. Register Your Name by filing the appropriate paperwork with your State Agency (Check your Secretary of State). You will likely need to file a Certificate of Incorporation or Articles of Organization, as well as possibly a DBA or a Trade Name.
4. You will need a Registered Agent who will accept legal notices on your behalf if you do not have an office that keeps normal business hours.
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after the initial creation of the entity
5. Apply for your Federal EIN (Employer Identification Number) for federal tax reporting and check with your State for local tax laws.
6. Double check with local city and county requirements for additional licensing and permits needed.
7. Create an Operations Agreement. This is not an absolute for all businesses, however I highly recommend you create one. An operations agreement is an important part of running a business and most banks won't give you a loan without one. Also don't forget to order a company seal, which you will need to apply to all official paperwork.
TIP: Most banks require you have a tax id (Federal EIN) and your State paperwork with your seal on it in order to open a bank account.
2. Decide what form of business entity you are going to establish. There can be great tax and legal benefits to establishing entities other than sole proprietorships. There are significant differences between a LLCs, LLPs, non-profits, S-Corps and C-Corps,Check this guide for help choosing a business structure.
3. Register Your Name by filing the appropriate paperwork with your State Agency (Check your Secretary of State). You will likely need to file a Certificate of Incorporation or Articles of Organization, as well as possibly a DBA or a Trade Name.
4. You will need a Registered Agent who will accept legal notices on your behalf if you do not have an office that keeps normal business hours.
-------------------------------------------------------------------------------------------
after the initial creation of the entity
5. Apply for your Federal EIN (Employer Identification Number) for federal tax reporting and check with your State for local tax laws.
6. Double check with local city and county requirements for additional licensing and permits needed.
7. Create an Operations Agreement. This is not an absolute for all businesses, however I highly recommend you create one. An operations agreement is an important part of running a business and most banks won't give you a loan without one. Also don't forget to order a company seal, which you will need to apply to all official paperwork.
TIP: Most banks require you have a tax id (Federal EIN) and your State paperwork with your seal on it in order to open a bank account.
*If all this sounds like a hassle to you, for a small fee there are companies who will file everything for you and even put the whole package together. Then all you have to do is wait for your registration/incorporation papers in the mail. They will even get you your own seal and some other important extras. See Below.
Professional Services
Never registered a business before?
Is your time worth more than doing it yourself?
One alternative to an attorney is to use a Professional Service. Professional Services can save you time for a reasonable cost. It gets done right, and they mail you the paperwork and everything else you need to get started.
Legal Zoom -
Incorporation's, LLC's and More!