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Starting a Business

You may be a contract worker who’s been told to incorporate, or you may have a great idea for a need that isn’t being filled, or you may just want to be your own boss – for any of these to come to fruition, you need to start your own business. And that means lots of paperwork and lots of decisions. Our Business Law attorneys know all the ins and outs of the decisions you need to make, not to mention the requisite filings. They have the experience and understanding to guide you through the process of starting your own business and beyond – helping you to stay current, to set up good employee procedures, and to protect your assets.

Important Questions:

  1. How many owners will your business have?
  2. What kind of ownership structure will your business have?
    1. Sole proprietorship
    2. Partnership
    3. LLC
    4. C Corporation
    5. S Corporation
  3. How much protection from personal liability will you need (which depends on your business's risks)?
  4. Do you need insurance for a business property?
  5. Do you need liability insurance on vehicles used in your business, including personal cars of employees used for business?
  6. Will you need to purchase liability insurance for your premises if customers or clients will be visiting?
  7. Is your potential business property zoned for the type of business it will be?
  8. Will you be working from home? If so, do your business activities violate any zoning restrictions on home offices in your neighborhood?
  9. How would you like the business to be taxed?
  10. Would your business benefit from being able to sell stock?
  11. What will the geographic reach of your business be?
    1. In your county
    2. Regionally in your state
    3. Nationally
  12. Have you checked all the applicable lists to make sure your business name is available?
    1. County Clerk
    2. Secretary of State
    3. Federal trademark search

 

Following is a list of some of the paperwork you may be required to file when starting a business:
  1. Organizational paperwork:
       Partnership:
    1. Partnership agreement
    2. Buyout agreement (also known as a buy-sell agreement)
        LLC:
    1. Articles of organization
    2. Operating agreement
    3. Buyout agreement (also known as a buy-sell agreement)
        C Corporations:
    1. Pre-incorporation agreement
    2. Articles of incorporation
    3. Corporate bylaws
    4. Buyout agreement (also known as a buy-sell agreement or stock agreement)
        S Corporations:
    1. Articles of incorporation
    2. Corporate bylaws
    3. Buyout agreement (also known as a buy-sell agreement or stock agreement)
    4. File IRS Form 2553, Election by a Small Business Corporation
  2. Registration paperwork: register your business name with the county clerk and/or other registering entities.
  3. IRS paperwork: Obtain a federal employment identification number by filing IRS Form SS-4 (unless you are a sole proprietorship or single-member limited liability company without employees).
  4. Licenses and permits:
    1. Seller's permit from your state if you will sell retail goods.
    2. Local permits, if required, such as a conditional use permit or zoning variance.
    3. (DBA) "doing business as" registration (usually filed at the county level), city and/or county business license, fire department permit, sign permit, health department license, and liquor, wine, and beer licenses.