What are the steps I should take before starting a new business in Georgia?

As a lawyer, if your goal is to start a new business in Georgia, you need to take several steps to ensure compliance with local laws and regulations. The following steps outline what you should do before starting a new business in Georgia:

1. Choose the right business structure: The first step is to decide on the right business structure for your company. Georgia law permits several business structures, including a sole proprietorship, partnership, limited liability company (LLC), corporation, and limited partnership. Your business structure will determine your legal and financial responsibilities, taxes, and personal financial liability for the business.
2. Choose a name for your business: You need to select a name for your business that complies with Georgia’s rules for business names. The state requires that your business name is unique and distinguishable from other businesses. You can search the Georgia Secretary of State’s website to verify that your business name isn’t already in use.
3. File necessary documents: You need to register your business with the state of Georgia to start on the right foot. You’re required to file articles of incorporation, articles of organization, or a certificate of registration with the Georgia Secretary of State’s office. Also, you may need to obtain a Georgia business license and register your business/tax identification number with the state revenue department.
4. Obtain necessary permits and licenses: Depending on your business activities or industry, you may need to obtain permits and licenses from various state and local government agencies. For example, if your business involves the sale of alcohol or tobacco products, you will require a special permit from the Georgia Department of Revenue.
5. Obtain required insurance: Different types of businesses require different types of insurance, depending on the risks associated with their activities. Some common forms of insurance are commercial general liability insurance, workers’ compensation insurance, and property insurance.
6. Set up accounting and record-keeping systems: You’ll need to set up proper systems to track your business activities, including bookkeeping, banking, and payroll. These systems will allow you to comply with tax law and report your business income to the IRS correctly.
7. Consult with a lawyer or tax advisor: It is advisable to seek legal advice from a lawyer or tax advisor to ensure that your business complies with all relevant state and federal laws, understand your tax obligations, and identify any potential legal risks.

In conclusion, starting a new business in Georgia can be an exciting experience, but it requires hard work and careful preparation. By following these steps, you can ensure that your business complies with all local laws and regulations, protecting you from legal and financial setbacks.