Monday, April 05, 2004
Legitimizing Your Business From A-Z
One of the main issues that face new and existing business owners is all the legal requirements necessary for operation. The following list is the most common requirements and should help you get started on your road to legitimizing your business. Keep in mind that you must also consider regulations that may be specific to your industry or local area.
Bar Coding - Many stores require bar codes on their merchandise. If you plan to have your products feature in different outlets or even in your own storefront, you may need to obtain a bar code.
Business Licenses - You may need vendor’s license to sell retail items in your state. Check out your state’s home page to get detailed information as you may need other types of licenses depending on your industry.
If you are interested in incorporating your business or forming a Limited Liability Corporation, check out Corporate.com to find out more information.
Certificate of Occupancy - For store-fronts or brick and mortar businesses, you may need zoning permission from your city or county zoning department.
Copyrights - Protects the thoughts and ideas of creative individuals. You may need this on marketing materials, books, poetry, etc. Contact the following for more information:
Federal Self-Employment Tax - Everyone is required to pay social security tax. This is taken out of your self-employment tax. Contact the IRS for more information (800) 829-1040 or visit the website to download free information (http://www.irs.gov).
Fictitious Business Name - We discussed this earlier. If you are not using real names you will need to register with the county. (This doesn’t apply to corporations). Visit your state homepage for more information.
Health and Safety - Visit your state’s homepage for specific information regarding health and safety requirements for your employees.
Immigration Act - All employers must verify the eligibility of new employees. You will need to provide an Employment Verification Form (I-9). You can receive the form by calling 1 (800) 870-3676 or by visiting your state’s homepage.
Insurance - In order to protect your investments from natural disasters and other calamities you need to find good business insurance. Some is required by law others you will want to acquire for additional protection.
Liability - In case you incur a lawsuit based on the use of your product and other types based on industry.
Property - Used to replace any equipment or valuables damaged or destroyed by unforeseen events.
Business Interruption - Used to cover taxes, utilities, and other fixed expenses when any property is out of commission.
Key Man - Insurance to cover loans in the event an owner and key employee dies.
Automobile - If you use your automobile for business use. You will need to have this type of insurance.
Office and Director - In the case of a corporation, if the officers or directors become personally liable for actions on behalf of the corporation.
Home Office - If you have a home-based business, you will have to update your existing policy to include office equipment because it is not included in the standard homeowner policy.
Legal Assistance - Starting a business requires completing dozens of files and possibly signing agreements and contracts. Consult with an attorney before going forward with any new agreement. Legal assistance is available at affordable costs. Try Pre-paid Legal to start your search for legal assistance.
Minimum wage - You must comply with all labor laws including the federal minimum wage. Check out http://www.sba.gov for more information.
Patents - If you have a new invention and you want to protect your ideas you should acquire a patent. This process is detailed and highly technical so you should contact a patent attorney. For more information, contact...
Sales Tax - If you have a retail business, you must collect sales tax from your consumers. Visit your state website for more information.
Trademarks - These are symbols used by business to indicate original materials. For more information, visit http://www.uspto.gov or your state’s homepage.
http://clearviewpublications.com
One of the main issues that face new and existing business owners is all the legal requirements necessary for operation. The following list is the most common requirements and should help you get started on your road to legitimizing your business. Keep in mind that you must also consider regulations that may be specific to your industry or local area.
Bar Coding - Many stores require bar codes on their merchandise. If you plan to have your products feature in different outlets or even in your own storefront, you may need to obtain a bar code.
Business Licenses - You may need vendor’s license to sell retail items in your state. Check out your state’s home page to get detailed information as you may need other types of licenses depending on your industry.
If you are interested in incorporating your business or forming a Limited Liability Corporation, check out Corporate.com to find out more information.
Certificate of Occupancy - For store-fronts or brick and mortar businesses, you may need zoning permission from your city or county zoning department.
Copyrights - Protects the thoughts and ideas of creative individuals. You may need this on marketing materials, books, poetry, etc. Contact the following for more information:
Federal Self-Employment Tax - Everyone is required to pay social security tax. This is taken out of your self-employment tax. Contact the IRS for more information (800) 829-1040 or visit the website to download free information (http://www.irs.gov).
Fictitious Business Name - We discussed this earlier. If you are not using real names you will need to register with the county. (This doesn’t apply to corporations). Visit your state homepage for more information.
Health and Safety - Visit your state’s homepage for specific information regarding health and safety requirements for your employees.
Immigration Act - All employers must verify the eligibility of new employees. You will need to provide an Employment Verification Form (I-9). You can receive the form by calling 1 (800) 870-3676 or by visiting your state’s homepage.
Insurance - In order to protect your investments from natural disasters and other calamities you need to find good business insurance. Some is required by law others you will want to acquire for additional protection.
Liability - In case you incur a lawsuit based on the use of your product and other types based on industry.
Property - Used to replace any equipment or valuables damaged or destroyed by unforeseen events.
Business Interruption - Used to cover taxes, utilities, and other fixed expenses when any property is out of commission.
Key Man - Insurance to cover loans in the event an owner and key employee dies.
Automobile - If you use your automobile for business use. You will need to have this type of insurance.
Office and Director - In the case of a corporation, if the officers or directors become personally liable for actions on behalf of the corporation.
Home Office - If you have a home-based business, you will have to update your existing policy to include office equipment because it is not included in the standard homeowner policy.
Legal Assistance - Starting a business requires completing dozens of files and possibly signing agreements and contracts. Consult with an attorney before going forward with any new agreement. Legal assistance is available at affordable costs. Try Pre-paid Legal to start your search for legal assistance.
Minimum wage - You must comply with all labor laws including the federal minimum wage. Check out http://www.sba.gov for more information.
Patents - If you have a new invention and you want to protect your ideas you should acquire a patent. This process is detailed and highly technical so you should contact a patent attorney. For more information, contact...
Sales Tax - If you have a retail business, you must collect sales tax from your consumers. Visit your state website for more information.
Trademarks - These are symbols used by business to indicate original materials. For more information, visit http://www.uspto.gov or your state’s homepage.
http://clearviewpublications.com
