Basic Business Setup Checklist

• Clarify what the business will do and who owns it.
• Review the entity options that could apply (for example sole proprietorship, LLC, or corporation).
• Verify your state and local registration requirements.
• Plan any registrations and licenses your activity needs.
• Understand whether you need an EIN.
• Prepare the documents a bank typically asks for to open a business account.
• Keep accurate ownership and contact records.
• Plan bookkeeping and keep business and personal records separate.

No single entity type is right for everyone. The SBA explains common options: SBA: Choose a business structure. Your state's business filing office lists its own requirements and fees.