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- Registration Process:
- You can start a sole proprietorship in Arkansas anytime without filing documents or paying state fees.
- Fictitious names in Arkansas are optional.
- If you need licenses and permits, the process will take 1-2 weeks and cost around $200.
- Taxation and Protection:
- As a sole proprietor in Arkansas, you must pay state and federal taxes on income.
- Consider liability insurance to protect assets.
- Choose an idea
- Register a name
- Obtain licenses
- Set up accounting
- File taxes
- A sole proprietorship in South Dakota can be started anytime without filing or fees.
- Depending on your business, licenses and permits may take 1-2 weeks and cost around $200.
- Sole proprietors in South Dakota must pay income tax.
- Steps to start a sole proprietorship in South Dakota include choosing an idea, registering a name, obtaining licenses, setting up accounting, and filing taxes.
