Using dedicated business banking and credit accounts is essential for personal asset protection. See How to Form an LLC in Mississippi and How to Form a Corporation in Mississippi for more information. STEP 3 - REGISTER A BUSINESS NAME. Regulatory licenses and permits. The Accelerator contains more than 60,000 square feet of fully fitted space available for lease, with complete access to state-of-the-art services and amenities. Restricted to technology companies with the potential to scale. If you have employees, you must also deal with state employer taxes. Our logo maker is free (no sign-ups or email address needed) and it comes in all social media sizes. With limited exceptions, most businesses require an Employer Identification Number (EIN), also known as a Tax ID Number. STEP 2 - SELECT A BUSINESS ENTITY. Must be a technology or manufacturing oriented business. If you will be selling goods in Mississippi, you must register … This will help you stay motivated when the going gets tough and will greatly improve your odds of success. Opportunities for Black-Owned Businesses Are Thriving. Insurance is a good idea for most kinds of business. Unemployment Insurance Tax Step 2: Plan Your Business. While insurance often is regulated at the state level, the types of business insurance available are usually similar across the fifty states. In some states, the information on this website may be considered a lawyer referral service. Check Obtaining Business Insurance for more information. You will need to register with the Mississippi SOS’s online filing system to get the name reservation application form. 228-475-3341 The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site. What will set your product or service apart from the competition? In addition, unregistered business owners may need to file a Trade Name, also known as a "DBA." EIN. For both types of tax, you can register online using the Mississippi Taxpayer Access Point (TAP). Tax Registration. Tax Registration. There are certain name requirements for LLCs and corporations (like including a word such as “LLC” for LLCs or “Company” for corporations). Financial PlanningHow many clients or sales will you need in order to break even? You may be able to find zoning regulations for your town or city by checking municode.com. Learn more about LLCs and how they differ from other business entities. Quality accounting software lets you download your bank and credit card transactions, making accounting fast and easy. jdonovan@mississippi.org. Shareholders must pay states taxes on their dividends from the corporation. By David M. Steingold, Contributing Author. If you’re a woman in business, find funding, tools and resources with this great new series, Protection from personal liability in the event your business is sued, If you are selling a physical product, you’ll typically need to register for. Need inspiration? In addition, the LLC itself must file Form 84-105, Pass-Through Entity Tax Return. In addition, most partnerships also must file Form 84-105, Pass-Through Entity Tax Return. Even if you are not required to obtain an EIN, there are often business reasons for doing so. To operate your new business legally, you will need to comply with federal, state, and local government regulations. smallbusinessincubator@gmail.com. If your business has employees or is taxed separately from you, you must obtain a federal Employer Identification Number (EIN) from the IRS. Professional and occupational licenses. And, apart from Mississippi taxes, there are always federal income and employer taxes. Business Name Partnerships. With the lowest cost of labor in the nation, starting a business in Mississippi is a great choice for entrepreneurs. STEP 4 - … Members pay state taxes on their share of LLC income on personal tax returns. If you plan on doing business online, you may want to register your business name as a domain name. See Choose and Register a Domain Name for more information. Learn how to obtain the necessary licenses and permits for your business, Use a professional service to help you obtain required licenses. The How to Start a Medical Marijuana Business in Mississippi package goes over typical budget scenarios for every type of business so you can understand real-world costs for this, including staffing positions and salaries. Sales & MarketingWho are your potential customers? See Mississippi State Business Income Tax for more information on state business taxes in Mississippi. Without an EIN, you can't hire employees or open a business bank account. We recommend that you check online to see if your business name is available as a web domain. Fictitious names expire after five years and may be renewed indefinitely. A shareholder-employee with a salary also must pay state income tax on his or her personal state tax return. 4836 Main St.Moss Point, MS 39563 Check IRS Publications 334, Tax Guide for Small Business, and 583, Taxpayers Starting a Business, available at irs.gov. Obtaining Business Licenses & Permits. Last but not least, try our Free Logo Generator to get a unique logo for your business. Business Plan Executive Summary. Pay state taxes on business income as part of their personal state income tax returns (Form 80-105). What may seem like a daunting task may be accomplished with relative ease, once you have chosen the type of business which best fits your needs. You’ll need to pick a location for your business and check local zoning regulations. As a member of the incubator, you will also have access to consulting services related to all facets of business, entrepreneur development programs, and legal information. Successful businesses are built through careful planning. Check Choose Your Business Structure on Nolo’s website for more information on how to choose the best ownership structure for your business. Find out how to obtain necessary licenses and permits for your business or have a professional service do it for you: Federal: Use the U.S. Small Business Administration (SBA) guide.

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