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7 Key Steps To Starting A Business

October 11, 2017
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Congratulations on starting a business. There are certain things you need to do when you start a business. Here you will learn about what things you need to file with government agencies because they have numbers for just about everything. For example an EIN is an Employer Identification Number and is used when you file your business taxes, payroll reports, banking and this number is used for so many other things. Following the steps below will help make things easier on you.

 

 

 

  1. Register for an EIN with the IRS.
  2. Register with the State of Colorado.
  3. If you are planning on running payroll or need to pay sales tax, etc, then you will want to get other numbers from the State of Colorado. Here you can apply for sales tax account, wage withholding account, and/or unemployment insurance account. Colorado Secretary of State.
  4. If you are in the city or county and are selling products to the end consumer, then you will need to apply for a sales tax license.
  5. If you have a service or are selling an online service, then check with your local jurisdictions to see if they tax the services you provide. For example, the City of Longmont will tax businesses for providing certain services.
  6. Check with your local jurisdictions to see if you have to have a license or permit to operate your business there.
  7. Verify the zoning requirements before picking a location for your business.

It is important that you keep track of these numbers once you get them. You will use these numbers throughout the course of the year. Once you get these numbers you will need to take steps to get insurance if you haven’t already got it set up. Take the time to verify the requirements the jurisdictions have on your business and make sure you meet them. Doing this will ensure a great start to your business.

If you are planning on running payroll, then you will need to do other steps. Please check out Setup Payroll for more information.

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Tags: business tips, Colorado, EIN, Longmont, register for EIN, Sales Tax, savy business owner, small businesses in colorado, Starting a business, Unemployment Insurance Account, Wage Withholding Account

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