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HERE IS WHAT
LEGAL DOCUMENTS YOU ARE REQUIRED TO HAVE TO START YOUR
BUSINESS
Fees |
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Business Legal Structure |
Business
License / Trade Business Name Filing |
Federal Tax Id EIN |
State Tax Id EIN |
Wholesale License |
Business License |
Corporation / Limited Liability Company
Filing |
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Sole Owner or Partnership with employees
& selling taxable items |
x
1* |
x |
x |
x |
x |
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Sole Owner / Partnership/
Selling Taxable Items - no employees |
x
1* |
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x |
x |
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Sole Owner / Partnership/
with employees - not selling taxable items
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x
1* |
x |
x |
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x |
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Sole Owner / Partnership/ no employees and not selling
taxable items |
x
1* |
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|
x |
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1. * (Required if you do
business in a name other than your own personal name)
- Bold "X" = All Business Need It
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Corporation / Limited Liability Company
with
employees
& selling taxable items |
x
1* |
x |
x |
x |
x |
x |
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Corporation
/ Limited Liability Company
with
employees - not selling taxable items
|
x
1* |
x |
x |
|
x |
x |
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Corporation / Limited Liability Company
Selling taxable items - no employees |
x
1* |
x |
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x |
x |
x |
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Corporation / Limited Liability Company
no employees and not
selling taxable items |
x
1* |
x |
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|
x |
x |
1. *(Required if you do
business in a name other than your own personal name -
for example if you do business as your name (John Smith)
you don't need a fictitious business. However, if
you business name is "John's Consulting" you need
a Business License / trade / Business License
filed.
(Required if the
corporations do business in a name other than the
corporation's name... more...click here ) |
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*You need a Corporation or A
Business License if you do business in a name other than
your own personal name |
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*(you
need it if you don't want to use your soc. sec. # to
open a bank account - note: you are required to have it
if you are a corporation)
Note
that
all
businesses
need a business license and are advised to obtain a
federal tax id to open a bank account. |
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-
In
general,
corporations need
a federal tax id and a business license;
-
Employers need
a federal tax id, a state tax id and a business
license;
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Wholesalers or retailers
of tangible taxable items need a Wholesale
License / Reseller License and a business license;
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Individuals, partnerships, and corporations
need a trade name filed if the business name used is
different from personal or legal name.
-
Note
that
all
businesses
need a business license and are advised to obtain a
federal tax id to open a bank account.
Example 1: you are an individual that sells toys,
and you business name is not your personal first and
last name - you need a Wholesale License , a
business license and a trade / Business License
filed.
Example 2. You are a partnership that provides
consulting services, and has employees.
You are required to have a federal tax id EIN, a
state tax id EIN, a business license, and a Business
License.
Example 3. You are a corporation selling widgets
on eBay, but have no employees - you need a federal
tax id, a business license, and a Wholesale License
. Note that if your corporate name is
different from your online business name, you also
need a trade / Business License filed ( example you
are "Xyz, inc" doing business as "Widgets
Online Are Us").
"x"
means that you need to file this
legal document
Do I need a
Corporation or a Business License ?
What is
The Process of Buying and Receiving these Documents?
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