Business License and Permit Requirements
Like it or not, government regulation is a fact of life if you’re starting a new business. So, it’s crucial not to overlook federal, state, and local business license and permit requirements. Nearly every business, even home-based, must obtain some form of license or permit in order to operate legally and avoid facing fines or even being shutdown.
Why Are They Necessary?
The government has two main purposes for requiring licenses and permits: keeping track of a business’s revenue for taxation purposes and public health and safety.
For example, in the context of taxation, a state sales tax permit allows the state to oversee the collection, reporting, and payment of sales taxes: A business that sells goods or services collects the sales tax on behalf of the state and is responsible for remitting it to the state.
Other licenses and permits are aimed at protecting the public, either physically or economically. For example, occupations that could impact a person’s health, such as doctors, dentists, hair stylists and barbers, generally require professional licenses establishing that these practitioners have a certain level of expertise in their field.
What Do I Need?
Different types of businesses have different types of license and permit requirements. The Knee Law Firm, Ltd. can help you navigate the regulation that goes along with your type of business. Here are a few of the most common types of licenses and permits.
Federal Licenses and Permits
State Licenses and Permits
Local Licenses and Permits
The Knee Law Firm, Ltd. Can Help
Starting a new business is exciting. We know. We’ve done it ourselves. It can also be complicated. If you have questions about the types of permits and licenses your business must obtain, when they should be renewed, and where they must be displayed or stored, Bill Knee and the Knee Law Firm, Ltd. can help. We’ve got years of experience and can provide advice on establishing your business.
Let’s talk about your vision and how we can help you stay up-to-date on the ever-changing regulations and compliance issues business owners face.
Contact Bill Knee at 847-807-5633