Starting A New Business: Learn What Legal Paperwork You Will Need
Getting A Business License: Once you have met with the zoning and business license departments and have determined that your business meets all the specific requirements for operation as a home-based business, you are ready to officially apply for the license. Business licenses are generally issued through the city or county clerk’s office and require completion of an application form. The most common information asked will cover business name, type of legal structure, location, type of business, number of employees, expected gross income and vehicles to be operated. Upon submission of the application and fee, the application will be reviewed prior to being issued. The license is renewed annually, subject to adherence to the city’s codes and regulations.
Filing Your DBA: If you plan to conduct your business under a fictitious name, you must file a DBA, which stands for “Doing Business As.” It may also be referred to as the Fictitious Name Statement. A fictitious name is any business name that does not contain your full legal name as a part of it. In some states you will be required to file a DBA even if you are using your legal name.
The purpose of the DBA is to inform the general public that you are beginning an operation under an assumed or fictitious name and that you are the individual who will be conducting that business. It must be published in a general circulation newspaper in the county in which your business is located. The ad generally must run in four consecutive issues. During this time, anyone may challenge your right to do business under that name. Following publication, verification must be filed with the city or county clerk.
The DBA gives you the exclusive right to use the name and keeps others from using the same or similar name. The time and money spent is very small compared to the benefits you will derive from becoming the owner of your business name.
Obtaining A Seller’s Permit: A seller’s permit number is required of anyone who purchases items for resale or who provides a taxable service in all states where sales tax is collected. An example of a taxable service would be clock repair. The labor or repair is not taxable, but the parts may be. A seller’s permit is obtained through the state agency responsible for the collection of sales tax. Most often it will be the Department of Revenue.
The retailer or final seller, not the customer, is responsible for paying the sales tax. Consequently, every seller engaged in the business of selling a tangible product or of providing a taxable service in a state where sales tax is collected is required to hold a seller’s permit for the purpose of reporting and paying their sales and use tax liability. The seller’s permit may also be referred to as a resale number or a resale certificate.
Your application must be based on the fact that you will be purchasing taxable items that you will offer for sale to the ultimate consumer or to other resellers or that you will be providing a taxable service. Any other reason for your request may be grounds for denial.
Sales Tax: The rule of thumb is: if you do not intend to resell your purchase through your business, do not use your resale number to buy it tax-free. Contact the agency responsible for the collection of sales tax in your state to determine the regulations on your particular type of business.
Setting Up A Business Bank Account: Often a business owner is tempted to run business finances through personal accounts. It is imperative that you keep your personal and business finances separate. Failure to do so can cause problems with your recordkeeping and tax computations. Business accounts are necessary for credibility when dealing with other businesses. You will not have much credibility with wholesalers or suppliers if you do not pay with a business check.
The first account opened with a bank is usually the business checking account. You must show proof of DBA filing before the account can be opened under your business name. The DBA gives verification that you are authorized to deposit checks made out to the business name. The DBA gives verification that you are authorized to deposit checks made out to the business name. Be sure to take your verification with you. The bank will make a copy for their records.
Tip: When you open your account, request that your checks be numbered beginning with a number higher than 101. This is a tip-off that you are a new business. You want to look established in the eyes of your creditors. The selection of the bank with which you will do business should be undertaken with consideration. Banks vary greatly in the services they offer, as well as in the charges for those services.
Question about business learning
Business Ethics involves learning what is right or wrong?Business Ethics involves learning what is right or wrong in the workplace and then doing the right thing. What is the role of ethical behavior in the success of an organization?
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13 Responses
Apparently not. No answers after 2 days.
I am a life long Catholic Christian and have never exposed to concepts of "fear of being roasted alive on Satan's BBQ."
About teaching with age appropriateness in mind, the Catholic Church states:
Whoever teaches must become "all things to all men" (? I Cor 9:22), to win everyone to Christ. . . Above all, teachers must not imagine that a single kind of soul has been entrusted to them, and that consequently it is lawful to teach and form equally all the faithful in true piety with one and the same method!
Let them realize that some are in Christ as newborn babes, others as adolescents, and still others as adults in full command of their powers
Those who are called to the ministry of preaching must suit their words to the maturity and understanding of their hearers, as they hand on the teaching of the mysteries of faith and the rules of moral conduct.
For more information, see the Catechism of the Catholic Church, section 23 and following: http://www.nccbuscc.org/catechism/text/prologue.shtml#23
With love in Christ.
Business Ethics teaches you what you can get away with and how to do it.
I have yet to meet anyone above the title of Supervisor that has, or practices, any kind of "ethics".
lmao u talk so much shit. stop embarassing urself dumbass
Flexibility is the one they had in America and UK where the laws and labor law matter, not the Chinese of hyper corporatism so dear to the WTO and the EU.
Excellent site. Thanks for the info will be very useful. Keep up the good work. Hope to see more soon.
it's perfectly legal and i recommend that you do it if you are a capable web designer. you don't need teacher certification to be a tutor, you only need to be an expert in your subject area. i advise against joining a tutoring website. the pay is ridiculously low and you could make 2 or 3 times more as an independent tutor.
Good luck!
Nonsense, China its destroying our economy with dumping and trust… Yeah lets go to China say the Soviet EU slogan repeated by all past left wing and european socialist partyes; so in this way all economy went in crysis thanks to China, will collaspe definitely and we will talk all chinese before dinner..NO THANKS !!!
who was then the Soviet European Union colludes with China is something well-known.
Flexibility ? Better say illegal underestimate of labor cost, slavery and much propaganda.
Mandarin Chinese is the best!
I think ethics in business is a thing of the past.
Most businesses now only care about one thing, money.
They dont care how they get it as long as they keep getting more of it.
In general, customer service is at an all time low, greed and increasing profits is at an all time high, and business ethics got kicked to the curb long ago.
"Everybody is learning mandarin [sic] now."
If you're going to major in business, you need to try and be an important, worthwhile asset to your company. While, yes, it is strongly speculated that China will be the next big thing and will probably come to be true, this doesn't mean Japan will be out of the market and will plummet into a third-world country. It will still be making innovations in all fields and companies will still want to deal with them.
While all those people who spent their college years learning Mandarin are battling for the same jobs, you can have a step up on them for you can aid your company in gaining profits from the Japanese. Besides, who's to say you can't learn Mandarin as well?
I would say your best option is an SBA loan. They are backed by the government. You will have to put some kind of business plan and proforma.
Just call 3 or 4 banks and ask for their SBA specialist. They can assist you more.
A typical BS in Business covers basic accounting, business law, management principles, etc. The focus is on generic things someone in management would address as part of their job. Like many degrees, the curriculum covered by most colleges and universities is pretty much the same.
Nearly every college and university offers business degrees via distance education, ie. online classes, versus traditional classroom learning. You can also CLEP many freshman business classes (see http://www.collegeboard.com) if you are a good cram and test person.
The challenge you face with a degree is business is that it is a "me too" degree. Meaning, you say you have a degree in business and the other guy says, "me too". Also, business degrees lack in industry specific knowledge, ie. business in widget manufacturing or business in the chemical industry.
So, what do you end up getting having only a degree in business? You get entry level jobs in lower to middle management. Starting salaries can range from mid $20Ks to lower $30Ks.
That said, my advice is a minor in some thing that is also of interest to you, ie. chemistry, biology, psychology, etc. Then you have both a broad degree in business with industry specific knowledge. Makes your marketability much better.
Hope that helps.