What You Need to Run Your Company Legally
If you think that you can offer a quality product or service to the people in your area, it may be a good idea to start your own business. However, you will need to make sure that you do so with the blessing of local, state and federal authorities. Let’s take a look at the various licenses or permits that may be needed to operate a business in the New York City area.
Will You Run the Company From a Commercial Building?
If you run a warehouse or manufacturing center, it may be necessary to obtain a NYC Certificate to Operate. This says that the building meets safety and other standards set forth by the city. Typically, you will need to post a copy of this certificate somewhere in the building where it can be seen by anyone who enters. The certificate may need to be renewed periodically.
You May Need Identification Numbers
If you have employees, you will generally need an employer identification number (EIN) as well as a state tax identification number. This helps to ensure that your company withholds income taxes and pays into the state’s unemployment system. The state tax number will allow the business to collect and remit sales taxes that it collects from its customers. In many cases, companies will need to collect sales taxes whether purchases are made in a physical location or through an online store.
Legal Counsel May Help You Stay Organized
There may be dozens of permits or licenses that you need to obtain to run your company in compliance with local and state regulations. Working with a business attorney may make it easier to ensure that you have everything necessary to do so. State or local authorities may also be able to answer any compliance questions that you may have.