How to Register Your Small Business in Four Steps
Getting your small business registered is one of the most common concerns that new business owners have especially when looking to expand and bid for government contracts. However, the registration process isn’t as simple as one may anticipate. We can help! check out Federal Processing Registry today.
The process of getting registered for most new businesses involves several steps which may not necessarily follow in the order listed below:
- Getting and registering your business name or trade name
- Registration of your business as a legal entity, either a Limited Liability Corporation (LLC), corporation, or others.
- Registration with the right tax authorities and
- Registering for the appropriate licenses and permits
The steps involved are however broken down for your understanding.
Getting and Registering your business name or trade name
When business names are chosen outside of your own name, then, there is a need to register the trade name or “doing business as” (DBA) name with the state where your business is located in. Corporations and LLCs are also allowed to register alternate names as long as those names are not in use by other existing businesses in the state.
Registration of your business as a legal entity
This step is not required of all businesses, however, for persons who seek to establish a legal structure for their company such as the LLC or S Corporation, then there is a need to get your business legally registered by filing certain documents which are known as articles of incorporation with the state government of your business location.
Register your business with the IRS and state revenue office
It is important to get your taxes in order and as such, consider this move.
For businesses with employees, business partnerships or others, it is important to apply for an Employer Identification Number, EIN, in some cases, the social security number can be used to administer the business finances.
Employers will also need to request an estimate of quarterly tax vouchers from the IRS and state revenue office. This document should be duly filled and returned with quarterly tax payments.
For persons who seek to collect tax from customers such as those in the retail food business, there may be a need to apply for a sales tax permit from the state’s revenue office.
Get the right business licenses & permits
There is also a need to get your business a form or license or permit which allows It operate legally in the state it is located in.