Checklist For Business Formation

Before launching your own business, it is necessary to make sure you have all the paperwork. Here is a list of  some of the various permits or licenses you may be required to file:

• Local Licenses, Permits or Registrations: Many states, cities or counties require you to obtain a license or permit primarily for tax purposes or sometimes to protect public health or safety.
• Special Licenses: An array of specialists from hairdressers to contractors and funeral home directors require special licensing.
• Employer Identification Number: On the federal level, if you are a sole proprietor with employees, Partnership, LLC or Corporation, you need to get a nine-digit number something equivalent to corporate Social Security Number.
• State Employer Identification Number or Charter: If your business is located in a state that collects income tax, you might be required to obtain State Employer Identification Number or Charter.
• State Tax License: If your business is engaged in the sale of goods or services, it is very likely you should file a state tax license. Laws vary state by state; however, most items sold to customers are taxable at the state level.
• State Labor Department Registration: If you hire employees, you will likely need to register with your state’s Labor Department or any other agency that handles unemployment insurance and worker’s compensation.

This is a checklist of licenses or permits for business entrepreneurs ready to launch their own business.