Starting a Sole Proprietorship in Arkansas
You can start a sole proprietorship in Arkansas anytime without filing documents or paying state fees. However, you’re personally liable for all business debts. Fictitious names in Arkansas are optional. If you need licenses and permits, the process will take 1-2 weeks and cost around $200.
As a sole proprietor in Arkansas, you must pay state and federal taxes on income. You need an EIN from the IRS and file annual returns. You may pay sales tax. Keep records of finances for taxes. Consider liability insurance to protect assets.
Steps to Start
- Choose an idea
- Register a name
- Obtain licenses
- Set up accounting
- File taxes
Consult an accountant on taxes. Sole proprietorships are the simplest in Arkansas.
Starting a Sole Proprietorship in Nebraska
In Nebraska, sole proprietors don’t need a general business license. However, specific licenses and permits depend on the business. Selling alcohol, for example, requires a liquor license. To start a sole proprietorship in Nebraska, begin by engaging in income-generating activities. While no document is officially filed to form a sole proprietorship, additional steps like obtaining licenses, a DBA, and an EIN might be necessary.
Nebraska issues over 270 state licenses and permits. Federal licenses apply to industries including alcohol, aviation, firearms, broadcasting, transportation, and others. Many Nebraska cities require business licenses to operate, with rules that vary by location and business type.
Starting Steps in Nebraska
- Choose a business name
- Apply for licenses and permits
- Obtain an EIN
Popular startup industries in Nebraska include food, agriculture, logistics, transportation, and healthcare. Starting as a sole proprietor simply requires choosing a name and beginning your business operations.
Do Sole Proprietors Need to File?
In both Arkansas and Nebraska, sole proprietorship setup is straightforward. No formal registration or fees are required, but liability and tax obligations must be managed. Retail, services, and trades are common industries for sole proprietors. We’ve prepared a guide with data, facts, and advice to help make your sole proprietorship successful.