STARTING A BUSINESS | A STATE-BY-STATE GUIDE
Starting a business requires many different steps, some of them more important than others. Initially, you would want to select a name for your business. A name search can be performed on the Secretary of State website in the jurisdiction where your business will be located. After you select a name, you can register a company with the Secretary’s office. Once you have officially formed a company, you would need to obtain a Federal Tax ID Number. With this number you can perform many tasks such as opening a business bank account. Other important tasks involve administrative filings and procedures that involve Business Licenses and Permits. Different levels of regulatory agencies administer these licenses and permits for various reasons. At their core, these documents have two prime functions. They allow the public to be informed and make sure that businesses are operating correctly. The second reason is that they allow governments at different levels to monitor and collect the appropriate taxes for their jurisdictions. The type of license and permits you need will depend on various factors such as the type of entity you have, where your business is located, what industry is your business in, and if your business has staff. Licenses and permits are administered at the federal, state, and local levels.
Once licensing compliance is finished, you can look into the many economic incentive programs that states offer. The most common types of incentives are given to companies through tax credits, grants, loan programs, and sales tax exemptions/abatements. Also, there are special incentives for businesses who physically situate themselves inside State designated Enterprise Zones. These programs are offered to eligible individuals and businesses to provide financial assistance and tax relief.
The section below will guide you to further information on business licenses for your business as well as the various economic programs that are available. Please follow the individual link to the state you are seeking more information about.