What legal steps do I need to take to start a small business in Ohio?
To start a small business in Ohio, there are several legal steps that you need to take. These steps include:
- Choose a business structure: You'll need to decide whether to set up your business as a sole proprietorship, partnership, limited liability company (LLC), or corporation.
- Register with the Ohio Secretary of State: You will need to register your business with the Ohio Secretary of State. This can be done online or by mailing in the appropriate forms.
- Obtain necessary licenses and permits: Depending on the type of business you are starting, you may need to obtain certain licenses and permits. You can check with the Ohio Department of Taxation and the Ohio Business Gateway to determine if you need any permits or licenses.
- Apply for an Employer Identification Number (EIN) with the IRS: If you plan to hire employees, you will need to apply for an EIN with the IRS. This can be done online or by mail.
- Register for state and local taxes: You will need to register for state and local taxes in Ohio. This can be done through the Ohio Business Gateway.
- Obtain insurance and take steps to protect your assets: Depending on your business, you may need to obtain insurance to protect your assets. This may include liability insurance, property insurance, and workers' compensation insurance.
- Comply with employment laws: If you plan to hire employees, you will need to comply with employment laws, including minimum wage and overtime laws, anti-discrimination laws, and workplace safety laws.
It is important to note that these steps may not be all-inclusive, and there may be additional steps required for your specific business. It is recommended that you consult with a licensed attorney or accountant to ensure that you have completed all necessary legal steps to start your business in Ohio.