Starting a Business Checklist
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Starting a Business Checklist
The Legacy Starting a Business Checklist is a free guide, written by attorneys and entrepreneurs, that is packed with information about naming your business, selecting a business structure, obtaining a Federal Tax ID Number, and more.
1. Check Name Availability
Once you have decided to start a new business, you will need to select a name. Before you invest too much in a great new name, you should do a company name search to make sure it is not already in use in a way that could create a conflict between another business and your own.
2. Assign a Registered Agent
A registered agent, sometimes referred to as a resident agent or an agent for service of process, is a person or company officially recognized by the state that resides within the state of incorporation and is designated by the corporation or LLC to accept service of process on behalf of the company. Learn more about our registered agent services.
3. File Formation Paperwork
Once you have decided on a name, you should determine the best form of legal entity for your business. There are many choices, including forming a C Corporation or S Corporation, forming a partnership, forming an LLC, or operating as a sole proprietorship.
4. Obtain a EIN
Every corporation needs to apply for a fedeal tax identification number, as does any business regardless of the corporate form that hires employees. The tax ID number is also called an Employer Identification Number, or EIN. It is like a social security number for your business and is used by the Internal Revenue Service to identify the business for tax matters.
5. Obtain Business Licenses and Permits
Depending on the type of business you are operating, you may be required to have one or more business licenses or permits from the state, local (city and county) or even federal level. Depending on the type of business you operate and the laws of your jurisdiction, these can include, among others, a general business operation license, zoning and land use permits, sales tax license, health department permits, and occupational or professional licenses.
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EXPLORE MORE ABOUT
Entity Structuring and Planning
- Business Filings Made Simple
- Take the Hassle Out of Starting a Business
- Business Structures Comparison
- Starting a Business Checklist
- Benefits of Forming a C Corporation
- What Is a Sole Proprietorship?
- Starting a General Partnership
- What is an S Corporation?
- What is a Professional Corporation?
- What is a Limited Liability Partnership?
- Federal Tax ID Number
- Other Services You May Need
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