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What are the legal requirements for starting a small business in Ohio?

Picture of Chris Battis By   ·  1 minute read

To start a small business in Ohio, there are several legal requirements that must be met. Below are the key steps that must be taken:

  1. Choose a Business Structure: The first step is to choose a business structure. Ohio allows for several types of business structures, including sole proprietorship, partnership, limited liability company (LLC), and corporation. Each structure has its own legal requirements and tax implications, so it’s important to consult with an attorney or accountant to determine which type is best for your business.
  2. Register Your Business: Once you have chosen a business structure, you must register your business with the Ohio Secretary of State. This involves completing the necessary forms and paying a registration fee. You may also need to obtain any necessary permits or licenses for your business.
  3. Obtain an Employer Identification Number: If your business has employees, you will need to obtain an Employer Identification Number (EIN) from the Internal Revenue Service. This number is used to identify your business for tax purposes.
  4. Obtain Business Licenses and Permits: Depending on the nature of your business, you may need to obtain additional licenses or permits from the state or local government. This could include permits for selling alcohol, operating a food truck, or providing certain types of services.
  5. Register for State Taxes: If your business sells products or services, you will need to collect and remit state sales tax. You will need to register with the Ohio Department of Taxation and obtain a vendor’s license.
  6. Obtain Insurance: Every business should have some form of insurance to protect against liability and other risks. The type and amount of insurance will depend on the nature of your business.

It’s important to note that these legal requirements may not be exhaustive, and there may be additional steps or requirements depending on the specific nature of your business. It’s recommended to seek the advice of an attorney or accountant to ensure that all legal requirements are met.