Opening a small business or organization? Utilize these tips to further develop your business into a legal entity.
1. Register with the Ohio Secretary of State
Get started by registering your business with the Ohio Secretary of State. Registration information and forms are available by calling (877) 767-3453 or visiting www.OhioSecretaryofState.gov.
2. Obtain an Employer Identification Number (EIN) from the Internal Revenue Service (IRS)
You’ll need an EIN number to operate your business. Applications can be found online at www.irs.gov under the “Businesses” tab.
3. Open a new bank account
Set up a new bank account for exclusive use by your business or organization. Be sure to bring your EIN with you to open the new bank account.
4. Contact the Ohio Department of Taxation
Register with the Ohio Department of Taxation at www.tax.ohio.gov. The Ohio Department of Taxation can assist businesses to determine if there are any state and local tax obligations.
5. Report newly hired and rehired employees to the Ohio New Hire Reporting Center
You’ll need to report any employee information at www.OH-NewHire.com. Contact the Ohio New Hire Reporting Center at (888) 872-1490 for more information or to assist with this process.
6. Contact the Ohio Bureau of Workers’ Compensation
If your business or organization has at least one employee, visit www.ohiobwc.com under “Ohio Employers.”
7. Contact the Ohio Department of Job and Family Services
Employers may be required to open an Unemployment Compensation Tax Account with the Ohio Department of Job and Family Services. Visit www.jfs.ohio.gov under “Employers” to assist in determining your obligations.
8. Obtain the appropriate licenses and permits for your business or organization
The Ohio Business Gateway, www.business.ohio.gov, Licenses and Permits page provides a list of professional licenses and business permits that are required to do business in Ohio. Contact your local and county government to determine if any special requirements exist for your type of business.
Special Considerations for Non-Profit Organizations
1. Apply for tax exemption
Visit www.irs.gov to apply to become a tax-exempt organization. Additionally, you’ll want to contact the Ohio Department of Taxation and your local and county governments to determine how to apply for applicable exemptions.
2. Contact the Ohio Attorney General if the intent is to engage in solicitation activities
Register with the Ohio Attorney General’s office at www.ohioatttorneygeneral.gov before engaging in any solicitation activities for your nonprofit organization.
3. Apply for a nonprofit postal permit
Apply for a nonprofit mailing permit from the United States Postal Service at www.usps.com.
Disclaimer: The tips contained in this post should be used for informational purposes only. Please contact the attorneys at Godbey Law to acquire individual legal advice for your specific business. (513) 878-1773 www.godbeylaw.com
Source: The Gavel