Checklist for Starting a Business

Source:  irs.gov

The checklist below provides the basic steps you should follow to start a business. This list should not be construed as all-inclusive. Other steps may be appropriate for your specific type of business.

Information about specific industries can be found at the Industries/Professions Web page.

Each state has additional requirements for starting and operating a business. For information regarding state-level requirements for starting a business, please refer to your state’s Web site.

Refer also to the Small Business Administration’s Checklist for Starting a Business.

• Apply for an Employer Identification Number (EIN) if applicable.
• Select a business structure.
• Choose a tax year.
• Choose your accounting method.
• If you have employees have them fill out Form I-9 and Form W-4 (PDF). If your employees qualify for and want to receive advanced earned income credit payments, they must give you a completed Form W-5 (PDF).
• Pay your business taxes.