Step 1: Register the Business with the State.
The first thing you will need to do is to register your business with the state. You have many options, but most new ventures start out as either a corporation, limited liability company (LLC), partnership, or sole proprietorship (with a DBA) — and the decision is often based on a variety of factors we can help you understand.
Step 2: Get a Tax ID Number.
A Tax Identification Number (TIN) or Federal Employer Identification Number (EIN) is a number that the IRS uses to track your company’s transactions. It is similar to your social security number, but for your business. You will need these ID numbers to open a business bank account.
Step 3: Research any Necessary Licenses or Permits, and Apply.
After you have registered your business with the state, you need to research and determine whether your business needs to apply for any licenses or permits you might need to operate the business in the state and city you intend to operate.
The types of permits you need will vary based on where you’re located and what type of business you’re starting. You can find out which licenses and permits will be necessary by using an online search tool, or by asking us!
- Every city has a database with a list of addresses that fall within that municipality. Search online for your city’s name + its business license division to find the correct webpage.
- You can also find the right information by way of the US Small Business Administration (SBA)’s website. Their page on permits offers information about where to get licensed, with details specific to your locale and your industry.
Step 4: Know your Business Code.
Different business types have different codes, and require specific application processes which vary based on the city your business resides in. Check your city’s business license site for information or check the SBA website for a list of necessary forms and useful information.
Step 5: Get help from a Professional.
It may be a good idea to have a professional help you with the license and permit process, as the requirements vary by the city and the type of business you are operating. The worst thing you can do is not do your homework, and begin operations without the required documents.
Carbon Law Group excels at helping small businesses identify and obtain the correct tax permits and licenses. Need help? Ask us how we can simplify the process and work with you to file and complete the right forms. Click here to schedule an appointment.
