STARTING A NEW BUSINESS
Starting a new business can be a daunting task. Let TRIAD be your central point of information for getting your business started. Forming your business with TRIAD is fast and easy. Simply call 1-877-805-6723 or click here, answer a series of questions, and we'll take care of the rest. TRIAD will prepare and file your documents and, upon filing, will email your filed documents typically within 24 hours.
See how TRIAD can help you with…
- Business Licenses — Most city, county and state governments, and in some instances, the federal government, require business owners to obtain business licenses. A local business license is a county or city license that grants you, as the business owner, the privilege of legally operating a business within a certain city and/or county jurisdiction. State business licenses are issued to businesses that provide products or services regulated by state law; for example, doctors, lawyers, hairdressers, realtors, auto mechanics, private investigators, building contractors and others who must meet state licensing requirements must also have a state business license. State licenses are also required of businesses that must meet certain state standards or codes, such as restaurants and other establishments that serve alcohol. Each state has different agencies regulating these types of businesses. Federal licensing is required if the business is highly regulated by the government; for example, firms that provide investment advice, interstate-trucking companies, businesses involved with meat preparation, and those that sell heavily regulated products such as firearms are required to have a federal license.
- Permits — Many businesses are also required to obtain permits. Generally, permits regulate the safety, structure, and appearance of the community as defined by local and/or state laws, and are typically referred to as "ordinances." Once your jurisdiction determines that your business is in compliance with such ordinances, you will be issued the relevant permit(s), enabling you to legally operate your business. Local permit requirements vary by jurisdiction. Failure to have the proper permits may prevent your business from opening and could result in fines or even in being shut down. Usually it is best to first research the kinds of permits your business will need and find out what the regulating agency requires. This research helps ensure that you are in compliance with regulations and will help you avoid costly delays and expenses related to retooling your business after the fact.
- Bylaws, Operating Agreements, and Partnership Agreements — The business and the financial and managerial rights and duties of your business are governed by a written agreement. Although TRIAD cannot provide you with legal advice, we can provide you with a form agreement that will be suitable for use in many situations.
- Registering a Business Name (DBA) — Fictitious Names (also known as a DBA or Trade Name) can be used when a company decides to do business under a name other than that in which they are registered. Fictitious Names can be registered at the State or the County, depending on the jurisdiction and where the business is principally located.
- Employer Identification Number (EIN) — An Employer Identification Number (EIN), also known as a Federal Tax Identification Number, is an identification number assigned by the IRS to identify taxpayers who are required to file various business tax returns.
- State Tax Number, Sales Tax (Seller's Permit) — If you have employees, you will need a State Tax Identification Number, in addition to an EIN. If you are a retail business or wholesaler of tangible, taxable items, you will need a sales tax license or seller's permit. This license allows you to charge sales tax to customers on items purchased.
- Opening a Bank Account — Choosing a bank account for your small business is an important stage in the startup process. There are several key things to consider: transaction and borrowing costs; the facilities that the bank offers; and the type of relationship you want from a bank. To open a bank account, you will need an EIN and copies of formation documents.
- Doing Business in Additional States — Many factors are used to determine whether a company is transacting business in a state and, therefore, needs to foreign qualify. Some of the common criteria evaluated include: whether the company has a physical presence in the state; whether the company has employees in the state; whether the company accepts orders in the state; and whether the company has a bank account in the state. Although TRIAD cannot provide you with legal advice, we can provide you with guidelines and the necessary forms to make sure your business is in compliance.
LEARN MORE ABOUT STARTING A NEW BUSINESS IN THE LEARNING CENTER