Does a Sole Proprietor Need a Business License in Colorado?

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Steps to Start a Wyoming Sole Proprietorship:

  1. Choose a business name
  2. Register for a DBA name if desired
  3. Obtain business licenses and permits
  4. Understand tax obligations

Sole Proprietorship Overview

A sole proprietorship refers to an unincorporated business with one owner. It’s the simplest business structure to set up. Sole proprietorships don’t have their own legal identity like an LLC. With a sole proprietorship, you have unlimited liability for business debts. An LLC offers liability protection and keeps your personal assets separate.

Registration Requirements

To start a sole proprietorship in Wyoming, first 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. You don’t file paperwork to create a sole proprietorship. You can simply start doing business under your name or registered DBA. As a sole proprietor, you have unlimited personal liability for debts and obligations of the business.

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