A sole proprietorship offers a fast, inexpensive, simple way to start a business in Utah without much red tape. Follow these steps:
- Select an appropriate business name and file for a unique DBA name with the state.
- Register for any needed licenses and permits based on business activities. For example, obtain a Sales Tax Registration to collect and remit sales tax if selling goods.
- Open a separate business bank account and get an EIN Number for taxes.
- Set up record keeping.
With proper registrations, licenses, permits and record keeping, individuals can legally operate a sole proprietorship business while retaining full control. There’s no formal setup fees to launch one in Utah.
To legally operate a sole proprietorship in Utah, select an appropriate business name. File for a DBA name with Utah’s Division of Corporations and Commercial Code. Their website guides through filing for an assumed business name. Register for licenses and permits needed for business activities. For example, if selling goods, obtain a Sales Tax Registration to collect and remit sales tax. Some professionals need a state Professional License.
Apply for a generic business operating license if required by the city or county. Be aware of state registrations with agencies like the Tax Commission, Labor Commission, Department of Commerce, Department of Workforce Services, and Department of Environmental Quality.
Follow these steps:
- File for a unique DBA name
- Register for licenses and permits
- Open a separate business bank account
- Get an EIN Number for taxes
- Manage record keeping
Sole proprietorships facilitate straightforward, low-cost business launches in Utah.
Do I need a BIN in Oregon for a sole proprietorship?
A sole proprietorship offers a simple, inexpensive way to start a business in Oregon. Follow these steps:
- Select an appropriate business name
- File for a unique DBA name
- Register for licenses and permits
- Open a separate business bank account
- Get an EIN Number for taxes
- Set up record keeping
There’s no formal setup fees to launch one in Oregon. Sole proprietorships provide a straightforward, low-cost business launch.