What legal requirements do I need to follow before starting a small business in Ohio?
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Legal Requirements for Starting a Small Business in Ohio
Before starting a small business in Ohio, there are several legal requirements that you need to follow. Below are some of the most important ones:
1. Register your business:
Under Ohio law, you are required to register your business with the Ohio Secretary of State's Office. This can be done online, and the registration fee varies depending on the type of business entity. For example, registering a sole proprietorship costs $39, while registering a limited liability company (LLC) costs $99.
2. Obtain necessary licenses and permits:
Depending on the nature of your business, you may need to obtain certain licenses and permits from the state or local government. For example, if you're opening a restaurant, you will need to obtain a food service license from the Ohio Department of Health. Other businesses, such as those in the construction industry, may need to obtain permits from the appropriate government agencies.
3. Obtain federal and state tax identification numbers:
You will need to obtain an Employer Identification Number (EIN) from the Internal Revenue Service (IRS) to identify your business for tax purposes. You may also need to register for state taxes, such as sales tax or employer withholding tax, depending on your business activities.
4. Comply with employment laws:
If you plan to hire employees, you will need to comply with various employment laws, such as minimum wage laws, overtime laws, and anti-discrimination laws. You may also need to obtain workers' compensation insurance.
5. Protect your intellectual property:
If you have created a unique product, service or invention, you may want to protect it with a patent, trademark, or copyright. This may involve filing an application with the appropriate government agency and paying fees.
It's important to note that these requirements are not exhaustive, and there may be additional legal requirements depending on the nature of your business. It's always a good idea to consult with an attorney or other qualified professional to ensure that you are in compliance with all applicable laws and regulations.
