Structuring a business

The moment the business you've developed is available to prospective customers is the first day of the life of your business. In the United States, making that happen requires no legal steps.

Very soon, however, you'll need to get any licenses that may be required by your state and/or municipality. You'll also need to comply with the local, state and federal tax collecting, reporting and remitting requirements.

From the moment of its inception, your business is either a sole proprietorship or a partnership. Very soon, or eventually, you may elect to make the business an operating entity, such as a corporation or a limited liability company.

As you consult with your business attorney and certified public accountant (CPA), they will advise you on the legal and regulatory steps you need to take, why they need to be taken and when to do it.