SlideShare a Scribd company logo
Choose entity type
Check name availability
Register entity with the state,
receive filing receipt &
certificate of organization
Obtain EIN (Business ID #) from
the IRS
Choose
managing
member
Make S-
Election
Choose
officers
Open a business bank account
Choose a bookkeeping system
LLC S-Corp
Payroll? Sales tax?
Register for state
unemployment
insurance,
workmen’s comp
& disability
PEO
Service?
Yes
Payroll
Service?
File quarterly
payroll tax
returns & make
tax payments
No
No
Register for sales
tax in every state
you will collect
and pay
Yes
Collect sales tax at
point of sale
File sales tax
returns and make
tax payments
Outside
Vendors?
File & issue 1099s
as required
Yes
Entity
Structure
LLC
Consider
purchasing a
general business
insurance policy
LLC
Fee &
UBT
Est.
Tax
NYC
Est.
Tax
S-Corp
Profitable?
Projections &
personal income
tax estimates
Yes
237 W 35th St, Suite 1001, New York, NY 10001
516.328.3800
Start-Up Checklist: Accounting & Tax Filings

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Start-Up Flowchart

  • 1. Choose entity type Check name availability Register entity with the state, receive filing receipt & certificate of organization Obtain EIN (Business ID #) from the IRS Choose managing member Make S- Election Choose officers Open a business bank account Choose a bookkeeping system LLC S-Corp Payroll? Sales tax? Register for state unemployment insurance, workmen’s comp & disability PEO Service? Yes Payroll Service? File quarterly payroll tax returns & make tax payments No No Register for sales tax in every state you will collect and pay Yes Collect sales tax at point of sale File sales tax returns and make tax payments Outside Vendors? File & issue 1099s as required Yes Entity Structure LLC Consider purchasing a general business insurance policy LLC Fee & UBT Est. Tax NYC Est. Tax S-Corp Profitable? Projections & personal income tax estimates Yes 237 W 35th St, Suite 1001, New York, NY 10001 516.328.3800 Start-Up Checklist: Accounting & Tax Filings