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What are the legal requirements for setting up a new business in Ohio?

Picture of Chris Battis By   ·  1 minute read

To set up a new business in Ohio, there are several legal requirements that must be fulfilled. These requirements are designed to ensure that the business operates lawfully and ethically, and that it protects the rights of employees, customers, and other parties involved. Here are some of the legal requirements to keep in mind:

  1. Choose a business structure: The first step in setting up a new business in Ohio is to choose a legal structure. The most common types of business structures are sole proprietorship, partnership, LLC, and corporation. Each structure has its own advantages and disadvantages, and it's important to choose the one that best fits your business needs.
  2. Register your business: Once you've chosen a structure, you will need to register your business with the Ohio Secretary of State's office. This involves selecting a name for your business and filling out the appropriate forms. You will also need to obtain any necessary permits or licenses from the city or county where your business will operate.
  3. Obtain tax IDs and permits: Depending on the type of business you are starting, you may also need to obtain a tax ID number from the IRS and a state tax ID number from the Ohio Department of Taxation. Additionally, you may need to apply for other permits or licenses, such as a liquor license, if your business sells alcohol.
  4. Obtain insurance: All businesses in Ohio are required to have certain types of insurance, such as workers' compensation and liability insurance. Depending on the type of business you are starting, you may also need additional types of insurance.
  5. Comply with employment laws: If you plan to hire employees, you will need to comply with various employment laws in Ohio, such as minimum wage laws and anti-discrimination laws. It's important to familiarize yourself with these laws to avoid any legal issues with your employees.

It's important to note that these legal requirements may vary depending on the type of business you are starting and the industry in which you operate. For example, businesses that sell alcohol have additional legal requirements to fulfill. It's also a good idea to consult with a licensed attorney to ensure that you are complying with all applicable laws and regulations.