budding entrepreneur briefing for the new business owner

It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world.

Whatever it is, we can help legally protect you and your business.

 

  1. Select your business structure

In order to begin, you want to decide what kind of business structure fits your needs. There are different kinds of business: Sole Proprietor, LLC, Corporation or a Non-Profit. For more information, click each one here:

 
 

  • A sole proprietor is someone who owns an unincorporated business by himself or herself.

    This is perfect for an individual business owner just starting out.

  • An LLC is a business structure by multiple or individual members

    This is perfect for An individual or group of individuals who do not want to be personally liable for the debts or responsibilities of their business

  • A corporation is A legal entity that is separate from its share holders.

    This is perfect for an individual or group of individuals who are looking for the strongest protection against personal liability, interested in distributing stock, including preferred stock for the owners, for their business and are looking for investors.

  • A non-profit is an organization tailored for a common socially benefitting purpose.

    This is perfect for an individual or group of individuals looking to use their talent, education or experience to make a positive change in the world.

 
 

2. Set up your business structure

Next, set up your business structure in California using the steps listed here:

 
 

  • 1. File DBA

    2. See your county's form requirements

    If applicable, apply for a license.

  • To file in California:

    1. Choose LLC name

    2. File Articles of Organization with the Secretary of State

    3. Choose registered agent

    4. Decide on member vs. manager management

    5. Prepare an operating agreement

    6. File biennial report

    7. Pay your Calfornia state tax obligations

    Comply with other tax and regulatory requirements

  • S-Corp:

    1. Choose corporate name

    2. File Articles of Incorporation

    3. Appoint a Registered Agent

    4. Prepare Corporate Bylaws

    5. Appoint Directors and Hold First Board Meeting

    6. Issue Stock

    7. File a Statement of Information

    8. Obtain a general business license from the city or county where the corporation's office is located

    9. Submit Form 2553 Election by a Small Business Corporation (signed by all shareholders) within 2 months and 15 days after the beginning of the corporation's first tax year

    Comply with Tax Requirements

    C-Corp:

    1. Choose corporate name

    2. File Articles of Incorporation

    3. Appoint a Registered Agent

    4. Prepare Corporate Bylaws

    5. Appoint Directors and Hold First Board Meeting

    6. Issue Stock

    7. File a Statement of Information

    8. Obtain a general business license from the city or county where the corporation's office is located

    Comply with Tax Requirements

  • 1. Choose a non-profit name

    2. File the non-profit's articles of incorporation

    3. Apply for 501(c)(3) tax-exempt status

    4. Get a federal tax ID

    Register with the state

 

3. Use Budding Entrepreneur Briefing to Assist You

Journey of a thousand miles begins with one step.

- Lao Tzu

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