Building Your Business

If you’ve taken steps to start your own business, you know there is a lot to consider. One of these considerations is what type of business you’d like to run and how it will function. You can create a corporation, partnership, limited liability company or sole proprietorship.

For all of these—even some sole proprietorships—you will need an Employer Identification Number (EIN). Our lawyers can help you.


How to Start a Business

  • Select a business name and find out if it is available
  • Register the business name in the office of your county clerk
  • Obtain the necessary licenses, permits and zoning authorizations for the type of business that is starting and the location of the business
  • Apply for an Employer Identification Number (EIN) in the Internal Revenue Service (IRS)
  • Open a corporate bank account using your business name and Employer Identification Number
  • Obtain general liability insurance covering your business and commercial property
  • Declare your taxes

Why You Need an EIN

An EIN is necessary to file and report taxes as a business. You need an EIN if:

  • You have employees
  • You need to file for bankruptcy
  • You have a Keogh plan
  • You withhold taxes on income (other than wages) paid to non-resident aliens
  • You file tax returns on Employment, Excise, Alcohol, Tobacco and Firearms