To start a small business in Ohio, you must first choose the type of legal entity you wish to operate under. The most common forms of business entities in Ohio include:
- Sole proprietorships
- Partnerships
- Limited liability companies (LLCs)
- Corporations
Sole proprietorships and partnerships are relatively easy to form and do not require any formal registration with the state. However, business owners who operate under these structures are personally liable for any debts and legal issues that arise from their business.
On the other hand, LLCs and corporations offer limited liability protection, which means that the owners' personal assets are shielded from business-related liabilities. To form an LLC, you must file Articles of Organization with the Ohio Secretary of State and pay a filing fee. To form a corporation, you must file Articles of Incorporation and pay a similar fee.
Once you have registered your business entity, you must obtain any necessary licenses and permits from state and local authorities. The Ohio Business Gateway is a useful online tool that can help you determine which permits and licenses you need.
Other legal requirements for starting a small business in Ohio may include registering for state and federal taxes, obtaining insurance, and complying with various employment laws such as minimum wage and worker's compensation.
Finally, it is important to note that this advice is not exhaustive and your specific circumstances may require additional legal considerations. Consulting with a licensed attorney who has experience with Ohio business law can help ensure that you are complying with all legal requirements and optimize your chances of success.
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