What Are the Basic Legal Requirements for Starting a Business?
Starting a business involves several legal requirements that ensure your venture operates within the law. These requirements vary by location and industry, but some common steps include:
1. Choosing a business structure (e.g., sole proprietorship, partnership, LLC, corporation) 2. Registering your business name 3. Obtaining necessary licenses and permits 4. Acquiring an Employer Identification Number (EIN) from the IRS 5. Complying with local zoning laws