Additional Business Filings
After Forming Your New Company: Next Steps
Forming your new company is just the beginning. Before you can legally conduct business, there are several critical formalities and registration processes that must be addressed. These tasks include securing the necessary licenses and permits required for your specific industry, as well as ensuring compliance with a range of local, state, and federal regulations.
Navigating these requirements can be complex, but they are essential to avoid legal issues and penalties. From health and safety permits to zoning clearances and industry-specific certifications, we help you manage these crucial steps, so you can operate your business with confidence and peace of mind.
Read ahead for information that will help you ensure that your business is properly prepared to begin daily operations.
Additional Filings/Licenses
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Local Business License
Before a business can legally begin its daily operations, obtaining the necessary licenses is essential. Most businesses will need at least one license, and depending on the industry, several may be required. These licenses can be issued by state, federal, or local government agencies, each playing a critical role in ensuring your business complies with the relevant laws and regulations. Regardless of which agency issues the license, securing the appropriate permits is crucial to operate legally and avoid potential fines or disruptions.
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Federal EIN #
In addition to standard requirements, there are some less straightforward formalities that certain businesses must address. One of the most common is obtaining a federal tax identification number, also known as an Employer Identification Number (EIN). An EIN functions much like a personal Social Security Number, facilitating payroll tax filing and other business-related tax processes. Additionally, many states require businesses to obtain a state tax identification number to ensure compliance with state-specific tax obligations.
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State licenses
Many states require specific licenses that apply to certain types of businesses. Service-based businesses, along with their employees, often need state-level licenses to operate legally. These licenses ensure that professionals and organizations meet all necessary certification and training standards. Industries such as healthcare, food service, and cosmetology typically require these licenses. Additionally, retail businesses in most states must obtain a state sales tax license to legally conduct sales.