As a new business owner, you have an ever-growing list of things to do. From writing your business plan to crunching numbers for financials, it’s all too easy to forget about the legal side of things. Before you can open your business to the public, you’ll need to have a business license.
Wondering how to get a wholesale license? Curious how much is a business license going to cost you? Keep reading to learn about how to get a business license, along with information about the best time to apply.
Understanding Your Legal Requirements
There are many reasons why a business license is required. First, a business license identifies your business and ensures you are held accountable for all actions. A business license is also used to keep track of finances for tax purposes. Last, a business license protects public health and safety and ensures your business is operating legally.
Are you asking yourself “Do I need a business license?” Think you could slide under the radar without one? Not being compliant with all permits, licenses, and tax registrations often result in expensive penalties. As a new business owner, chances are you don’t have the funds to pay thousands in fines and fees. Non-compliance could also result in the closure of your business.
Though getting a business license adds to the already lengthy laundry list of things to do, it’s a worthwhile (and necessary!) part of owning a company.
When Do You Need a Business License?
You must have applied and been approved for a business permit before you start doing any type of business. This includes physical and online sales. It’s best to apply for a business license as soon as you have concrete details about your company, including:
- Type of business
- Federal ID number
- Business contact information
Once your business has been given a registered federal ID number, you will want to apply for a state permit. This way, your opening day won’t be delayed because of a pending license application. The sooner you apply, the better!
Avoid Business Hassles with FastFilings
Setting up a business and preparing to open up takes a lot of time and effort. With the help of FastFilings.com, one thing you can quickly knock off your list is applying for a business license.
Traditionally, you’d need to order a state license directly through your district office, but, with our services, we’ll do the work for you. Our team files all permit and license requests directly. All you have to do is provide basic information about your business!
Avoid the headache and hassle of a business license application and, instead, choose FastFilings. Be sure to check out our other business filings services to see how we can make your life as a business owner a lot easier!