What are the legal steps involved in starting a business?


legal
Anthony asked:


I want to start a business, partnership to be exact, I want to know all the legal processes involved. For whatever reason everytime i search how to start a business all i get are tips on how to make it succesfull, thats nice and all, but how do I make my business a legal tax paying government recognized business??
It is not an online business

This entry was posted on Monday, November 30th, 2009 at 12:00 am and is filed under Small Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “What are the legal steps involved in starting a business?”

  1. Ragzzz Says:
    December 2nd, 2009 at 12:37 pm

    hi
    The following are the requirements for starting a partnership business.
    1) A partnership agreement.
    2) Get it registered in the Registrar of firms.
    3) Apply for a PAN Number and a TAN Number for your firm.
    4) If your firm is a service sector then apply for service tax registration.
    5) Apply for VAT and PT registration.
    6) Registration of Excise and Customs based on your business.

    Wishing you a successful business career.
    If you are in bangalore then you can contact me for any professional assistance on Ragzzz

  2. Doughboy Says:
    December 5th, 2009 at 12:42 am

    For US based businesses, here’s what you need to do to start. Choose your business form (Partnership, LP, LLP,LLC, S Corp are most common for start-ups). Partnerships require partners, and therefore you need a partnership agreement to govern your relationship with your partners. (You can create a partnership without a partnership agreement, but that’s not advisable.) Partnerships often have a general partner who assumes the management and control (and overall liability) of the partnership and the other partners are limited partners (their liability is limited). Choose a state for your partnership (partnerships are state-regulated entities). At the website of your secretary of state’s office, you can register your partnership and separately reserve your business’s name. Most Sec of States this can all be done online. Depending on your business form, you may or may not have to file a copy of your partnership agreement or other business formation documents with the secretary of state. Pay the filing fees, and you are now a legally registered corporate entity.

    For federal taxes, you need to obtain a TIN, or tax identification number, which you can do online. State and local taxing authorities have their own taxing regulations and procedures. Consult a local attorney. Doughboy

  3. readyfor_you2 Says:
    December 7th, 2009 at 7:30 pm

    Start by picking a name for your company and put together a business plan. Once you do it, then you need to take the next few steps, 1) Register your Co. with a state. 2) Make sure you have a telephone number and legal business address. readyfor_you2

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