| Yes, no, sometimes and maybe. | | | | important things you can do keep your limited liability |
| The answer as to what registration is required for a | | | | "shield" in place is to file a Certificate of Assumed |
| business depends on two things: (1) the legal entity you | | | | Business Name in order safely to use trade names. |
| create to operate your business and (2) the nature of | | | | 3. Register for your business' Federal Tax ID. All |
| your business. | | | | partnerships, multi-member LLC's and corporations |
| Small business owners often make the mistake of | | | | must have an Employer Identification Number, which |
| creating a corporation or LLC without completing basic | | | | can be obtained from the Internal Revenue Service. |
| steps. Use this short checklist to review whether you | | | | 4. Register with the State Revenue Agency and |
| formed or registered your business properly. | | | | Obtain Permits/Licenses. Depending on the nature of |
| 1. Pick the right legal structure for your business. Your | | | | your business, you may be required to register with |
| options include the limited liability company (LLC), | | | | your state, especially if you sell a product and are |
| general or limited partnership, limited liability partnership | | | | required to collect sales tax. In some parts of the |
| or corporation. Your business lawyer and your | | | | country, you might even be required to obtain local |
| accountant should be consulted. You should consider | | | | permits or licenses. |
| such factors as the number of owners, the business | | | | Of course, this is the short list, and your business may |
| plan, the capitalization plan, taxes and other factors. | | | | be required to obtain other permits or licenses, or you |
| 2. File a Certificate of Business Name. Most | | | | may be required to register with other governmental |
| businesses use a shorten name, called a trade name, | | | | agencies. All law is local, in the sense that the law is |
| for marketing purposes. ACME Medical Products, | | | | applied differently in different states, counties and cities. |
| Incorporated will be marketed as "ACME" or "ACME | | | | See your legal advisor for help. |
| Medical Products." One of the cheapest and most | | | | |