Your SlideShare is downloading. ×
Registering a Business in Ohio
Upcoming SlideShare
Loading in...5

Thanks for flagging this SlideShare!

Oops! An error has occurred.

Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Registering a Business in Ohio


Published on

1 Like
  • Be the first to comment

No Downloads
Total Views
On Slideshare
From Embeds
Number of Embeds
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

No notes for slide


  • 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: 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.
    • U.S. Small Business Administration
    • Service Corps of Retired Executives
    • Patents and Trademarks
    • Ohio Secretary of Sate; forms, information
    • CCH Business Owners toolkit
    • Loans and investment for business
    • Examples of Business Plans
    • Wall Street Journal Center for Entrepreneurs