What To Do After Forming Your LLC
After forming your LLC, there are several important steps to take to ensure that your business is set up properly and ready to operate. Here's a checklist of actions to consider: Obtain an EIN: Apply for an Employer Identification Number (EIN) from the IRS. This unique identifier is used for tax purposes, opening bank accounts, hiring employees, and more. You can apply online through the IRS website. Register for State and Local Taxes: Determine your LLC's tax obligations and register with the appropriate state and local tax authorities. This may include sales tax, income tax, or other taxes applicable to your business. Open a Business Bank Account: Establish a separate bank account for your LLC to keep personal and business finances separate. This simplifies accounting, helps maintain accurate records, and protects personal assets. Obtain Necessary Business Licenses and Permits: Research and obtain any required licenses and permits necessary to operate your LLC legally. Th