Starting a business in the United States can be a life-changing decision of your life, but it all begins with proper preparation. Whether you’re a new entrepreneur or an experienced business owner, having the right documents is Important to avoid delays or complications. With the right guidance, the process can be smooth and hassle-free. Let’s help you get it right from the start!
Overview
In this guide journey, we will cover the following topics:
- Business Name Reservation (Optional)
- Articles of Incorporation/Organization
- Operating Agreement (For LLCs)
- Corporate Bylaws (For Corporations)
- Employer Identification Number (EIN)
- Business Licenses and Permits
- Proof of Address
- Shareholder and Member Agreements
- Banking Resolution
- Additional State-Specific Documents
By completing these steps and ensuring you have the required documents, you can register your business smoothly and avoid disapproval or unnecessary delays.
1. Business Name Reservation (Optional)
Before registering your company, reserving your desired business name ensures its availability. While optional in most states, it is a critical step if you are not yet ready to file company formation documents.
Requirements:
- Proposed business name
- State-specific application form for name reservation
- Reservation fee (varies by state, typically $10-$50)
Example Portal: Visit Alabama Business Name Reservation Portal to reserve a business name.
2. Articles of Incorporation/Organization
This foundational document establishes your business as a legal entity. It is required for all business types, whether forming an LLC, corporation, or nonprofit.
Details to Include:
- Business name and address
- Registered agent’s name and address
- Business purpose (general or specific)
- Management structure (e.g., members for LLCs, directors for corporations)
- Filing fee (ranges from $50 to $500 depending on the state)
Example Portal: Visit California Secretary of State Business Programs for filing articles of incorporation or organization.
3. Operating Agreement (For LLCs)
The operating agreement defines the ownership structure and operational procedures of your LLC. While not mandatory in all states, it is strongly recommended to prevent disputes.
Key Elements:
- Ownership percentages of members
- Roles and responsibilities
- Voting and decision-making processes
- Protocols for adding or removing members
4. Corporate Bylaws (For Corporations)
Corporate bylaws act as the governance manual for corporations, detailing operational and managerial procedures.
What to Include:
- Roles and responsibilities of directors and officers
- Meeting schedules and voting protocols
- Shareholder rights and responsibilities
5. Employer Identification Number (EIN)
An EIN, issued by the IRS, serves as a tax identification number for your business. It is required for tax filing, hiring employees, and opening a business bank account.
How to Obtain an EIN:
- Complete Form SS-4 via the IRS EIN Assistant (free of charge)
- Provide details such as business name, structure, and address
Screenshot: [Include a screenshot of the IRS EIN Assistant homepage.]
6. Business Licenses and Permits
Depending on your industry and location, specific licenses or permits may be necessary to operate legally.
Examples Include:
- Sales tax permit
- Health department certification (for food-related businesses)
- Professional licenses (e.g., for lawyers, doctors, or accountants)
Application Process:
- Check state or local government requirements
- Submit necessary forms and associated fees
Example Portal: Visit U.S. Small Business Administration (SBA) Licenses & Permits for guidance.
7. Proof of Address
A physical or mailing address is often required during registration. Some states allow businesses to use a registered agent’s address in lieu of a physical location.
Acceptable Documents:
- Utility bills
- Lease agreements
- Bank statements
8. Shareholder and Member Agreements
For multi-owner businesses, shareholder (corporations) or member (LLCs) agreements are critical. These documents define roles, responsibilities, and financial stakes of each participant.
9. Banking Resolution
This document authorizes specific individuals to open and manage a business bank account on behalf of the company. Financial institutions typically require it during account setup.
10. Additional State-Specific Documents
Certain states impose unique requirements for company registration. Examples include:
- California: Initial Statement of Information within 90 days of registration
- New York: Publication of LLC formation in local newspapers
Example Portal: Visit New York Department of State Division of Corporations for specific requirements.
Conclusion:
Always verify your state’s specific requirements and consult legal or business professionals if needed.
By ensuring your paperwork is accurate and complete, you set a strong foundation for your business’s success. Start compiling these essential documents today to bring your entrepreneurial vision to life.
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