What are the legal requirements for starting a business?

Starting a business in North Carolina requires following certain legal requirements. One of the first steps is to choose a business structure. North Carolina recognizes the following structures: sole proprietorships, general partnerships, limited partnerships, limited liability partnerships, limited liability companies (LLC), and corporations. When a business is established, the North Carolina Secretary of State must be notified. This is done by filing a Certificate of Assumed Name, which is also known as a “Doing Business As” or DBA. This allows the business to operate under an alternate name other than its official legal name. In addition, businesses need to obtain a North Carolina business license or business permit from their county or municipality. The government office that issues the license is different depending on the type of business. Businesses that sell products or services also need to register for a sales tax permit with the Department of Revenue. This allows them to collect and remit sales tax, which is required for taxable items. Lastly, businesses that employ workers in North Carolina must register with the Division of Employment Security in order to withhold taxes from payroll. They must also register with the Internal Revenue Service (IRS) to receive an Employer Identification Number (EIN). All of these legal requirements must be met in order to legally start a business in North Carolina and begin operations.

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What are the legal requirements for starting a business?

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