What you need to get your biz legit.
So this blog post actually started as a freebie, my most popular freebie in fact. I turned it into a full lesson in my signature program Unf*ck Your Biz (which opens for enrollment twice per year).
I decided to basically turn that whole lesson into this blog post. It's a checklist of what you may need in your business.
Use it to take an inventory of what you don't and don't have.
First, you have to form your business entity or at least determine which type of entity is right for you. If you're not sure, start with this blog post. These steps assume that you're starting with a sole prop and moving to an LLC. Some items are required regardless while others are based on the type of entity you have.
You'll also find that I have additional resources on many of these items. They'll be hyperlinked.
Get a registered agent
Each LLC must have a registered agent. Your registered agent is responsible for receiving service of process for your biz.
Check biz name
After you choose your biz name, you'll want to check if anyone else in your area is using it. Also check to see if the LLC name is available.
Determine entity and file
Decide if you want an LLC or if you're sticking with a sole prop for now. If you opt for an LLC, form that before you do the next steps.
Get Your DBA
If you need a dba (or two), now is the time to get those. This one requires ID, so it may not be possible to do online. I usually just go in person to do mine, but check your local requirements.
Statement of Information
Not all states require a statement of information, but check to see if your state has a similar requirement. Some call it an annual report.
Annual Franchise Tax
Franchise tax is basically the annual fee for the LLC. Think of it as the cost of owning an LLC. Some states may also call it an annual fee or something similar.
After you have opened your bank accounts and have your processes in order, you can put yourself on payroll as an s corp owner.
How I teach the small biz blueprint
I teach this full process in my program Profit Rx. And I teach a modified and more simple version my course Legally Launched, which is geared towards creative in year 1 of their businesses. Check out the courses to see how you can get step-by-step directions to make sure your business is compliantly setup.