These are of some of the issues related to this subject. As is the case with all material at this site, you should not consider this legal advice. This is intended only as an example of some of the many serious general issues to consider with such a matter. Expert local, legal and financial advice should be obtained in all such matters.
Start-up Checklist
The following steps may be necessary, in addition to the others described in this course. Individual steps vary depending upon the type of business. Some businesses are highly regulated while others have few requirements. The following items should be reviewed for application to your specific business.
Register any fictitious name with secretary of state or county clerk, as required.
Obtain federal tax identification number for your business.
Obtain local business licenses.
Obtain any state licenses needed to operate.
Obtain any federal permits or licenses needed.
Determine if zoning regulations or land use regulations impact you choice of location.
Obtain sales and use tax permits if you will be selling products.
File sales and use tax returns.
Make estimated tax payments.
Open appropriate bank accounts for withholding and other purposes.
Get connected with a good small business certified public accountant.
Obtain appropriate insurance coverage for all risks.
Record all evidence of the business relationship, such as articles of incorporation, partnership certificate, etc.
Document any personal loans to the business by a promissory note.
Document any transfers of property to the business by a bill of sale or other transfer document.
Sign all leases and contracts in the name of the corporation, partnership or other entity whenever possible, even if a personal guarantee is required.
* NOTE - For a longer and more inclusive discussion of this topic, please see the article published in Louisville Computer News: Start-up StepsFor other articles at this site on start-up steps, click on the following links: