Legal Documents for Starting a Business
: Do you want to start a business? If yes, it is very significant to know that there are some documents that you need to prepare before you can start running your own business or else your business will be considered illegal.
These documents are needed so that your business will be approved.
Documents for Running a Business
One important note to remember is the type of business determines the documents required before you can run your business. Business like restaurants requires fire and health department permits. The legal documents required on running a school or day care center requires more efficient permits and documents. Health care business venture oblige permits and legal documents which is administered by health care authorized boards. If the business deals with hazardous and risky waste, permits and legal documents will include registering with several government agencies.
Typical Documents for Business
- State Permits and Licenses
- Federal and Local Government Permits
- Health Permit
- Fire Permit
Basically, the legal documents required to start a venture is the basic needs of certain business. It’s not important for every business to turn into a corporation. These legal documents required to start business are dependent upon the size of such business as well as the projected or anticipated revenue.
In case of Limited Partnership License is required for financial and tax reasons. Legal documents that are susceptible for lawsuit and complaints may require the business to become a corporation to evade any personal liability of the owner.
Business Name Registration
Keep in mind that every business requires a “DBA” or Doing Business As or a Fictitious Name for the business. It is the legal name of such business and it is required to open a business account or commercial banking. In fact some entrepreneurs also conduct their business using their name as sole proprietor.
Remember that all legal business ventures should be registered with federal and local government. Legal documents need to start business and may usually include local business license as well as employer tax ID.
Every state requires the owner of the business to state with state revenue agency. The legal documents required for the state revenue is the Federal Tax ID number or also called as Employer Identification Number. In case the business venture is involved in selling items or products should obtain Vendor’s License or Sales Tax Permit from the local or state government.
Health Care Ventures
If you will run a health care business, remember that you need to have legal documents from Department of Health as well as other agencies that rules health care ventures like nursing licenses or Medical Insurance License.
There are a lot of business ventures that may require added legal documents other than tax permits and standard business license.