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Registering a Business in Ohio
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Registering a Business in Ohio

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  • 1. WELCOME ! How to Register a Business and Types of Business Organizations Presented by: Resource Partner of the U.S. Small Business Administration
  • 2. Registering a Business
    • Choose Type of Business Organization
    • Register with The State of Ohio
    • Obtain Employee Identification Number (EIN) from IRS
    • Obtain Vendor’s License
    • Obtain County and City Permits if Required
    • Obtain Zoning Approval if Required
    • Contd.
  • 3. Registering a Business
    • Contd.
    • County Taxes
    • Ohio Unemployment Tax
    • Ohio Worker’s Compensation Insurance
    • Ohio Sales Tax
    • Ohio Income Tax
    • Federal Income Tax
  • 4. Types of Business Organizations
    • Sole Proprietor
    • Partnership
    • Corporation
    • Subchapter-S Corporation
  • 5. Types of Business Organizations: Sole Proprietor
    • Owned by one person
    • Simplest form of business organization
    • Minimum of legal restrictions
    • Owner receives all the profits
    • The business is easy to discontinue
    • The proprietor assumes the risks of the business to the extent of all her/his assets, whether used in the business or personally owned
  • 6. Types of Business Organizations: Sole Proprietor
    • Some disadvantages:
    • Unlimited liability for the owner.
    • Individual owner is legally liable for all debts of the business. Any personal and real property may be attached by the creditors.
    • Limited ability to raise capital
    • The business capital is limited to whatever the owner can personally secure. Business expansion may be restricted when new capital is required.
  • 7. Types of Business Organizations: Partnership
    • Two or more persons who join together to carry on a trade or business
    • Each person contributes money, property, labor, or skills
    • Each partner expects to share in the profits or losses of the business
    • Easy to organize. Has definite legal status
    • Has greater financial strength than sole proprietorship
  • 8. Types of Business Organizations: Partnership
    • Some disadvantages :
    • Unlimited liability of the partners.
    • Each partner may be held liable for all the debts of the business.
    • One partner not exercising good judgment can cause the loss of the assets of the partnership as well as the personal assets of the remaining partner(s).
    • The authority for decisions is divided.
  • 9. Types of Business Organizations: Corporation
    • Treated by law as a single entity with rights and duties of its own.
    • Owners are the stockholders
    • Managers of the corporation may or may not be stockholders.
    • The stockholders have limited liability.
    • Transfer of ownership is easy (sale of stock)
    • contd.
  • 10. Types of Business Organizations: Corporation
    • Contd.
    • It is easy to raise capital and expand.
    • Efficiency of management is maintained.
    • Life of the business is perpetual.
    • Adaptable to both small and large businesses.
  • 11. Types of Business Organizations: Corporation
    • Some disadvantages:
    • Corporation is subject to special taxation.
    • It is more difficult and expensive to organize than other forms of ownership.
    • The corporate charter restricts the types of business activities.
    • The corporation is subject to many State and Federal controls.
  • 12. Types of Business Organizations: LLC
    • Shareholders include their share of the corporation’s profits or losses on their personal 1040 forms.
  • 13. Registering a Business
    • Consider using the services of an Attorney and/or a Certified Public Accountant.
    • Lawyer Referral Service
    • One First National Plaza 937 222 6102
    • Ohio Society of CPAs 614 764 2727
    • Web: www.ohioscpa.com 800 686 2727
    • Possibly get referral from your banker
  • 14. Business Registration
    • Ohio Secretary of State, Business Services
    • 180 E. Broad Street, 16 th Floor, Columbus, OH 43215
    • Web site: w w w . s t a t e . o h . u s / s o s
    • One-Stop Business Permit Center 800 248 4040
    • ( Business Start-Up Kit) or 614 466 4232
    • Business Incorporation Information 614 466 3910
    • Business Name Availability 614 466 0590
  • 15. Business Registration
    • One-Stop Business Permit Center
    • Part of the Small Business Development Center.
    • Provides direct assistance to new and expanding businesses.
    • Business Start-Up kit includes information on Permits and licensing
    • Developing a Business Plan
    • Incorporating
    • Paying Taxes
    • Patenting Inventions
    • Obtaining copyrights, trademarks and product codes
  • 16. Business Registration with the IRS
    • Information on:
    • Declaration of Estimated Tax
    • Withholding Employee’s Income Tax
    • Withholding Employee’s Social Security Tax
    • Employer’s Social Security Tax
    • Federal Unemployment Tax.
    • Apply for Employer Identification Number.
    • contd.
  • 17. Business Registration with the IRS
    • contd.
    • Employee Identification Number (EIN) to be shown on all business returns, documents and statements in connection with the business.
    • IRS Form SS-4 from:
    • Internal Revenue Service Center
    • 4 th Floor, The Federal Building, 200 West Second Street,
    • Dayton, OH 45402 800 424 1040
    • website: w w w . i r s . g o v
  • 18. County and City Permits
    • Vendor’s License
    • Required by each person, firm or corporation in the business of retail sales.
    • Obtain from County Auditor’s Office.
    • In Montgomery County: 937 225 4314
  • 19. County and City Permits
    • Food Licenses
    • A State license or a local permit is required by any operation selling food of any kind.
    • Contact your local Health District
    • In Montgomery County call: 937 225 4460
    • For food handler’s certificates for servers, cooks, and others, contact:
    • Montgomery County Health Office: 937 225 4500
  • 20. County and City Permits
    • Zoning
    • Check with city or township for zoning clearance.
    • Provide address, lot number, and type of business.
    • In Dayton call City of Dayton 937 333 3887
    • City Licenses
    • Required for many occupations and business operators in the area cities. For example: pipe-laying, home improvement contractors, salvage yard, etc. For City of Dayton call:
    • City of Dayton Finance Department 333 3557
  • 21. County and City Taxes
    • County Real Estate Tax
    • If a business owns real estate, County Auditor assesses taxes.
    • For information and forms contact County Auditors office.
    • For Montgomery County call: 937 225 4315
    • County Personal Property Tax
    • All personal property, including inventory, used in business in the State of Ohio is subject to taxation. A return must be filed within 90 days of the business start.
    • For Montgomery County call: 937 225 4315
  • 22. County and City Taxes
    • City Income Tax
    • Every individual, partnership or corporation having a taxable income, must pay City Income Tax.
    • Each employer is required to withhold tax from their employees.
    • City of Dayton acts as the collection agency for adjacent cities.
    • Contact:
    • Department of Taxation, 101 West Third Street,
    • Dayton, OH 45385 Telephone: 937 333 3500
  • 23. Ohio Taxes
    • Ohio State Sales Tax
    • Each person, firm or corporation in the business of retail sales must obtain a Vendor’s License from the County Auditors office. The Dept. of Taxation in Columbus will automatically receive a notice of this issuance and will forward to the Vendor all the necessary forms and information for the collection of sales tax.
    • Ohio Corporation Franchise Tax
    • All domestic corporations organized for profit under Ohio law are subject to an Ohio Franchise Tax and will automatically receive information from the Ohio Taxation Department.
  • 24. Ohio Taxes
    • Ohio Income Tax
    • All compensation paid to employees in Ohio is subject to withholding for this income tax.
    • Contact:
    • Dept. of Taxation, Box 267, Columbus, OH 43270
    • or
    • Dayton District Office, 15 East Fourth Street
    • Dayton, OH 45402 937 285 6210
  • 25. Ohio Taxes
    • Ohio Unemployment Tax
    • Businesses with one or more employees must pay an Ohio Unemployment Compensation Tax.
    • Contact:
    • Dept. of Taxation, Dayton District Office,
    • 15 East Fourth Street, Dayton, OH 45402
    • Telephone: 937 285 6210
  • 26. Ohio Taxes
    • Ohio Workers Compensation Insurance
    • All employers of one or more persons in their business must participate in the State Insurance Program
    • Contact:
    • Bureau of Worker’s Compensation Building
    • Ohio Department, 246 North High Street,
    • Columbus, OH 43246 Phone: 614 466 1015
    • for Darke, Miami, Montgomery, Preble, and Shelby counties contact:
    • Dayton Service Office
    • 3401 Park Center Drive, Dayton, OH 45414
    • Phone: 937 264 5217
  • 27. SCORE Services
    • Counseling on all business matters
    • Assistance with development of the Business Plan
    • Assistance with development of the Financial Plan
    • Counseling on securing business financing
    • Training through business workshops
    • Onsite business consulting and mentoring
  • 28. Helpful Web Sites, www.
    • sba.gov U.S. Small Business Administration
    • score.org Service Corps of Retired Executives
    • uspto.gov Patents and Trademarks
    • state.oh.us/sos Ohio Secretary of Sate; forms, information
    • toolkit.cch.com CCH Business Owners toolkit
    • vfinance.com Loans and investment for business
    • bplans.com Examples of Business Plans
    • startupjournal.com Wall Street Journal Center for Entrepreneurs

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