Whether you are starting a new business or are wondering about changing your current business, deciding what type of entity to register can be an important decision. There are a few common business structures from which most clients choose when registering a business, including a sole proprietorship, limited liability company (LLC), and corporation (C Corp, S Corp, B Corp). Your business structure may affect how much you pay in taxes, your ability to raise money, the paperwork you need to file, and your personal liability. You may not always need to register your business but remember, if you don’t register your business, you could miss out on personal liability protection, legal benefits, and tax benefits.
When you do register your business, you’ll need to choose a business structure before you register your business with the state, and many businesses will also need to get a tax ID number and file for the appropriate licenses and permits.
If your business conducts business activities in more than one state, you might need to form your business in one state and then file for foreign qualification in other states where your business is active. Foreign qualified businesses typically need to pay taxes and annual report fees in both their state of formation and states where they’re foreign qualified.
Business licenses and permits you need from the state, county, or city will depend on your business activities and business location, and the fees will also vary. We’ll help you register with the proper agency so you can legally conduct business under your new entity.
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