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Is Business Formation in Columbus Ohio Really the Nightmare it Seems?

Is Business Formation in Columbus Ohio Really the Nightmare it Seems?
February 10, 2016 LS_admin

Business formation in Columbus Ohio doesn’t have to stop your forward momentum.

The complexities of business formation in Columbus Ohio, and elsewhere, has sidetracked many a great business idea. But your business doesn’t have to get put on the back burner because of the nightmare that forming a business can be. Here’s how to simplify the process and keep your vision on track.

Step #1: Check Your Name

Once a company has registered its name with the Secretary of State’s office, no other company can use that name without the original company’s permission. Check your name in their database before you start printing business cards and making building signage. Once you know your desired company name is available, get it registered.

Step #2: Business Registration

The state of Ohio requires all businesses to register with the Ohio Secretary of State’s office. You will need to know whether or not you will have employees to determine whether you need to register for employee withholding with the IRS. You’ll also need to know what legal structure you want for your company. In Ohio there are six different options. These include:

  • Sole proprietorship
  • General partnership
  • Limited partnership
  • Limited liability partnership
  • Limited liability company
  • Corporation

Step #3: Include the IRS in Your Plans

To run a business that’s more than just you in your basement, you need an Employer Identification Number, or an EIN. This identifies your business with the IRS for tax purposes. Depending on the nature of your business you may also need certain business licenses. 

These first three steps in getting your business up and running are the bare minimum that you need to get checked off your list before you open your doors. Having legal guidance before you get started, and during the entire setup process can help you avoid any tangles or misinformation that can easily come your way. When you’re ready to jump in with both feet, contact the team at Dawes Legal for all the help you need with business formation in Columbus,Ohio.