What documents are required to start up a new business?

Question

I am looking to start up a pet supply shop and need to now how to get the documentation going. What sort of forms are required? It is a partnership business. Thanks.

Answer 1

I would organize the business as an LLC to protect your family's assets. Register with the state (check their site for details). Apply for an EIN (Employer ID Number) also called a Tax ID number. If you do it by phone it's faster than by mail or fax. Find out if you need a local or county business license. I only needed a dba (doing business as) form to be filed in my county (but I operate my business from my home). Then, apply for a Sales Tax ID number as you'll have to file regularly, usually quarterly, and notify the state of your sales tax collected.

To get a local business checking account, you need all of those forms along with your Driver's License and at least one other form of ID. Many banks offer free business checking for small businesses.

Good luck. It's a lot of work, but well worth it.

Answer 2

I read on the e last night you should have 6 months rent saved back and not have to owe out .Have legal documents to rent .Dont expect to boom for like 2 years .Figure out all your expensives first.Remodeling fees and phone ,electric gas ,advertising is a big expense.