Whether you’re a new entrepreneur or an established business, you have to register your company to protect yourself against lawsuits and ensure compliance with state and local laws. It’s also important to register your business so that you can obtain licenses and permits, pay taxes, and open a bank account.
The first step is to decide how you want your company to be structured. There are a few different ways to do this, including a limited liability corporation (LLC), partnership, or sole proprietorship. Once you’ve decided how your company will be organized, you can complete the process of registration. The requirements for registration vary by state, but most states require a name and address for the business, as well as a registered agent who is available during business hours to receive legal papers and notices for the company.
Some businesses also need to apply for a federal tax ID, or employee identification number (EIN). This is required for any entity that plans to hire employees or receives more than $25,000 in gross receipts from a single source in any fiscal year. You can obtain an EIN by completing IRS Form SS-4 or hiring a firm that specializes in registering companies.
Once you’ve registered your business, it’s time to focus on launching and growing your company. The right marketing and sales strategies can help you build a brand that attracts customers and drives growth for your online store. And as you scale, remember that having the right partner to support your business can make all the difference in your success. register a business