Are you considering starting a business of your own? Some of you may already have a business plan in mind but don’t know how to start. Others may be too overwhelmed with everything that needs to be done to actually begin.
Protector Insurance + Tax And Bookkeeping LLC offers new business formation services in Bluffton, SC. We will take care of all the complicated forms and processes so you can focus on developing your brand. We will help you throughout the journey.
Get Your Business Up and Running Sooner Rather Than Later! Call Protector Insurance + Tax And Bookkeeping LLC At 843-707-7504 Now!
Business Structures, Licences, And Permits
Below is an overview of different business types you can choose as well as the licenses required to register your business.
Business Types
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LLC (Limited Liability Company)
LLC stands for Limited Liability Company, usually known as “pass-through,” which means an LLC company’s profits stream straight to the managers or members. It is the type of flexible business structure, giving the partnership or sole proprietorship lots of benefits. With it, you will not require many formal processes compared to other types of corporations. On the other hand, LLCs will not offer stock to the public and, at the same time, requires keeping an affordable amount of internal paperwork.
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C Corporation
C corp comes from the word “corporation,” several big companies file under this structure. It is because it offers the most asset protection as well as tax-related opportunities for business owners. It is the only option that gives owners who prefer to be taxed separately from their company. It requires a huge deal of paperwork and also formal processes, which should always be carefully done from time to time. C corps are typically monitored closely more than other types of business corporations.
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Nonprofit
The nonprofit has a liberal purpose or organization that’s eligible for tax exemptions. For any organization to receive a tax-exempt status with the IRS, its meaning must fall under a specific section with an internal revenue code. This corporation falls under community chest, foundation or fund.
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DBA
Both sole proprietorships and general partnerships find it necessary to pick this business name (also called a “doing business as” and abbreviated “DBA”). With this, you will automatically need a formal account to allow the business to stand by itself other than the owner’s personal account/name.
Business Licenses And Permits
Businesses require at least one license before normal daily operations can begin. The permit may be state, federal, or local government licenses. Protector Insurance + Tax And Bookkeeping LLC can process all of these for you.
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Permits
Permits are different from licenses; they usually signify your business’s compliance with specific local ordinance. Their main aim is to make sure your business is operated safely and by society’s regulations. The primary forms of permits are local health department permits.
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Zoning laws
Zoning laws consist of municipal and local laws, indicating how real property is in some geographic regions. Many businesses are subject to zoning restrictions designed to restrict specific types of organizations. It usually affects companies that offer vices like tobacco, liquor shops, firearm dealers, or nightclubs.
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ITIN (Individual Taxpayer Identification Number)
Most businesses must file ITIN, which stands for Individual Taxpayer Identification Number; this is usually a tax processing number only available for specific nonresident and resident aliens. It is generally for spouses or dependents that cannot get a Social Security Number (SSN). It is a nine-digit number, which begins with the number “9” having an SSN format (NNN-NN-NNNN).
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EIN (Federal Tax Identification Number)
EIN is a unique nine-digit number that identifies your business for tax purposes. It’s similar to the Social Security number but is for business-related items only. As a business owner, you’ll need an EIN to open a business bank account, apply for business licenses and file your tax returns.
Frequently Asked Questions
- How Do I Start A New Business In The USA?
First, you must decide on a business type and where you should form your business. Next, register your business name. You also need to apply for an EIN, get a US mailing address (if needed), and open a US bank account. - How Long Does It Take To Register A Company In The USA?
There are two options:- Postal application – eight to ten days
- Online application – within 24 hours
- Can A Foreigner Start A Business In The USA?
Yes, foreigners can start a business in the USA because there are no restrictions on foreign citizens owning a business. You don’t even need a green card to do so.
Fast and Reliable New Business Formation Services
Choosing a business type and completing your business licenses and permits are the essential first steps for every business. You’ll need to decide on a business type or structure before you register your business with the state. Consult the professionals at Protector Insurance + Tax And Bookkeeping LLC to make these processes as quick and simple as possible.
Inquire Now! Call Protector Insurance + Tax And Bookkeeping LLC At 843-707-7504!
Protector Insurance + Tax And Bookkeeping LLC 210 Bluffton Road, 2nd floor, Bluffton SC 29910 843-707-7504