Frequently Asked Questions
First, decide of the legal structure of your small business. For most small businesses, a sole proprietorship . corporation . or partnership are the normal choices. You may want to consider S corporations. limited liability companies. and limited partnerships as alternatives but if you one person, just file a dba, get your business license and tax id number. and start your business. You can always change your business form later .
Then check with check to see if there are any more permits needed. Most small businesses do need a business license . but some do not.
For tax laws, contact a cpa but you don't really need one right away. The point now is to start making money. Then there is a lot of useful information about small business tax matters and can be found whenever you need it.
Some businesses require a state tax id or a state
business license before they can conduct business. For example, businesses such as health facilities, transportation businesses, businesses dealing in dangerous chemicals, food processors, and others must check with the appropriate state agency for permission to do business.
If you will be employing others in your business, you will need a state tax id or otherwise called Employer Tax Identification Number, which we can get for you. Eventually, you may want to get advise of laws pertaining to the hiring, employment and pay of workers. There are also Federal laws in this area, but they are pretty similar as they pertain to Employment.
As with any specialist, a lawyer is a waste of money if you don’t need one. As a business owner, you will most likely need a Lawyer at some point. However, since most businesses starting have many expenses, you may want to consider that after you start operations and you are making money.