A practical checklist for opening a business in the United States.
Choose an entity An LLC is the common default for small owner-operated businesses. Corporations suit companies raising outside investment. Your choice affects taxes and personal liability.
Register and license Register with the state, obtain an EIN from the IRS, and check city and county license requirements for your industry.
Open the right accounts Keep business and personal money strictly separate. Mixing them can undo the liability protection of your entity.
Put agreements in writing Operating agreements between partners, leases, customer terms, and independent contractor agreements should all be written and signed.
Employment rules Wage and hour law, workers compensation insurance, and worker classification are the three areas where new businesses most often get into trouble.
This material is for general information only and is not legal advice. Consult a licensed attorney about your specific situation.