To start a sole proprietorship in Arizona, first decide on a unique business name that accurately reflects your business. You can operate under your own name or create a separate "doing business as" (DBA) name. Next, register your DBA name locally if using one. You also need to obtain necessary business licenses and permits from state and local agencies to legally operate. Requirements vary depending on your business, so check with government offices. As a sole proprietor, you have unlimited liability for the business’s debts and obligations.
Ready to start a business in Oregon but unsure how? Our guide shows how to start an Oregon sole proprietorship, register a name, get licenses, and more. Choosing a structure is one of an entrepreneur’s first decisions when starting a business. The structure defines legal and tax implications, outlining responsibilities and protections. Many Oregon small business owners choose a sole proprietorship. We’ll explain what it is, the pros and cons of the structure, and steps to legally form one.
- Sole proprietorships offer simplicity but expose owners to unlimited liability.
- Partnerships share profits and losses equally.
- Incorporating may increase taxes but also shields owners from liability and provides infrastructure for corporate stocks.
To determine the pros and cons of an Alabama LLC, consider factors like limited liability protection, operational flexibility, credibility with customers, state regulations and fees, and pass-through taxation. An LLC may make sense if limiting liability exposure while retaining taxation benefits.
- A sole proprietorship has one owner.
- To start, decide on a business name. You can use your own name or create a separate "doing business as" (DBA) name.
- Next, register your DBA name locally.
- You also need business licenses and permits from state and local agencies to operate legally.
- Requirements vary by location, so check with your state and local government offices.