A sole proprietorship has a single owner in Arkansas. You can start anytime without filing or fees. You’re liable for debts. You can register a business name. Licenses and permits may take 1-2 weeks and cost $200.
Steps to Start:
- Choose an idea
- Register a name
- Obtain licenses
- Set up accounting
- File taxes
- Consult an accountant on taxes
Arkansas has opportunities to start sole proprietorships. Know state laws and rules to start and operate a successful sole proprietorship.
As a sole proprietor in Arkansas pay income tax and may pay sales tax. Keep records for taxes. File returns annually. Consider insurance to protect assets.
A sole proprietorship has a single owner in Arkansas. You can start anytime without filing or fees. You’re personally liable for all business debts. You can register a fictitious business name. Licenses and permits may take 1-2 weeks and cost around $200, depending on your business. You must pay income tax and may register for sales tax. Keep financial records and consider insurance to protect assets. Retail, services, and trades are common sole proprietorships.