How to Register your Company?
You're ready to start your own business, but there are many steps you have to take before you can start earning money. The first thing is to register your company with the government. This is a simple process that takes less than a month and involves submitting some documents. In this article we'll cover how you can register your company, what it means for your taxes and liability insurance coverage, and why it's important to do so right away.
Register a Business Name
Before you can start your business and begin earning money, you must register your business name with all levels of government. This includes the state, federal government, county and city governments.
If you have chosen a unique name for your company then it is important that you check if there are any registered trademarks that match or are similar to what you want to call your company. You can do this by visiting each jurisdiction's website and searching for businesses that have already been registered in their respective databases.
Choose the Best Structure
The structure of your business will have a significant impact on your liability and tax obligations. The following types of businesses are available:
- Sole Proprietorship
- Limited Liability Company (LLC)
- Corporation (C-Corp or S-Corp)
Obtain Licenses and Permits
The best way to obtain licenses and permits is to hire a legal professional. The process of getting them can be lengthy, often taking over a year. You need to first apply for the appropriate licenses or permits in your state, which may include:
- Licenses and permits from the Department of Labor
- Business license from your city or town government
- Food establishment license from your city or town government if serving food
Register for Taxes
Next, you need to register for taxes. You can do this by filling out a form and sending it in with your registration documents. Once the tax authorities receive your application, they will send you back an invoice with payment instructions.
Open a Business Bank Account
Opening a business bank account is an important step in the process of registering your company. Once you have a business bank account, you can start depositing and withdrawing money from your business.
Create a website
Once you have registered your company and received the Certificate of Incorporation from the Registrar of Companies (ROC), now is the time to create an official website for your business. You will need an attractive website that includes all relevant information about yourself and/or your company.
The process of registering a company is not very difficult. It just takes some time to complete all the steps, but once you are done, it’s all worth it.
With this information, you should be able to properly register your company and get up and running.