To properly register a small business in Ohio, there are a few crucial steps that must be taken:
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Choose a Unique Business Name: The first step in registering a business in Ohio is selecting a unique name for the business that is not already in use by another entity.
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Determine Your Business Structure: Next, choose a business structure for the company. The most common options include sole proprietorship, partnership, limited liability company (LLC), or corporation.
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Obtain a Federal Tax ID Number: In Ohio, most businesses need to obtain a Federal Employer Identification Number (FEIN) from the Internal Revenue Service (IRS). This number is required to open a business bank account or to hire employees.
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Register with the Ohio Secretary of State: Business entities must register with the Ohio Secretary of State by submitting Articles of Incorporation, Articles of Organization, or a Certificate of Authority, depending on the chosen business structure.
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Obtain Applicable Licenses and Permits: Depending on the nature of the business, additional licenses and permits may be required from local, state, or federal agencies. For example, obtaining a state sales tax permit may be necessary if the business will be selling goods or services.
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Comply with Local Tax Requirements: Ohio businesses may be subject to local taxes in addition to state taxes, such as municipal income taxes, school district taxes, and county sales taxes.
It is important to note that the requirements for registering a business in Ohio may vary depending on the specific circumstances of each case. It is recommended to seek the advice of a licensed attorney or a professional business consultant to ensure compliance with all legal requirements.
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