Starting a Business Checklist
The CARDON Media Starting a Business Checklist is a free guide, written by attorneys and entrepreneurs, that is packed with information about naming your business, selecting a business structure, obtaining a Federal Tax ID Number, and more.
1. Check Name Availability
Once you have decided to start a new business, you will need to select a name. Before you invest too much in a great new name, you should do a company name search to make sure it is not already in use in a way that could create a conflict between another business and your own.
2. Assign a Registered Agent
A registered agent, sometimes referred to as a resident agent or an agent for service of process, is a person or company officially recognized by the state that resides within the state of incorporation and is designated by the corporation or LLC to accept service of process on behalf of the company. Learn more about our registered agent services.
3. File Formation Paperwork
Once you have decided on a name, you should determine the best form of legal entity for your business. There are many choices, including forming a C Corporation or S Corporation, forming a partnership, forming an LLC, or operating as a sole proprietorship.
4. File a BOI Report
New businesses that are formed on or after January 1, 2024, must file a beneficial ownership information report within 90 days of business formation. This applies to both domestic and foreign Corporations and Limited Liability Companies (LLCs).
5. Obtain a EIN
Every corporation needs to apply for a federal tax identification number, as does any business regardless of the corporate form that hires employees. The tax ID number is also called an Employer Identification Number, or EIN. It is like a social security number for your business and is used by the Internal Revenue Service to identify the business for tax matters.
6. Obtain Business Licenses and Permits
Depending on the type of business you are operating, you may be required to have one or more business licenses or permits from the state, local (city and county) or even federal level. Depending on the type of business you operate and the laws of your jurisdiction, these can include, among others, a general business operation license, zoning and land use permits, sales tax license, health department permits, and occupational or professional licenses.
7. Register for Payroll Taxes
If you are a new business that is planning on hiring employees, you will need to register for payroll taxes such as State Unemployment Insurance Tax (SUI) and State Income Tax (SIT). Payroll taxes are a legal requirement for hiring and paying employees in the United States.
8. Maintain Compliance
Forming your entity is just the first step. Keeping it in corporate compliance is essential if you are to enjoy the benefits of having created a separate entity, including limited liability.
Let CARDON Media Take the Hassle Out of Starting a Business
The Business Formation experts at CARDON Media can file all the paperwork to help you start a business today. Whether you decide to Form an LLC (Limited Liability Company), Corporation, Non-Profit, or simply File a DBA, our business filings experts can file your paperwork quickly and affordably.
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