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The Process of Starting a Business: What You Need to Know
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Starting your own business is an exciting endeavor. You get to be your own boss, make your own hours, and grow your company in the way you see fit. However, there are also laws and regulations that you must follow when starting a business. A business lawyer in Texas can help guide you through this process and ensure that you are following all state and federal laws. We’re sharing everything you need to know about starting a small business.
Steps to Starting a Business
If you want to start a business, there are some basic steps you need to take. These steps will help get your business started. Additionally, they will help ensure that you follow all state and federal laws.
- Write your business plan
- Choose your business location
- Finance your business
- Decide on your business structure and register your business name
- Determine business tax responsibilities
- Figure out required licenses and permits
- Learn business employer requirements
Follow these steps if you want to succeed as a small business owner. Also, make sure you talk to a lawyer in Texas who can help you meet all the legal requirements for starting a small business.
You might also want to talk with an accountant or tax consultant to understand the financial aspects of starting and running your business. Ultimately, taking care of all the legal and financial details upfront will help you when it is time to launch your business.
Forms, Fees, and Filing
Knowing what you need to pay and what forms to file is essential for starting a business. The type of business you choose will help determine which forms you need to file. For example, you may need to file some documents before your business can start, while you can wait for others. Make sure to familiarize yourself with the different forms and their submission deadlines.
Depending on the type of business you’re starting, you may need to file business or nonprofit forms with your state’s secretary of state office. Additionally, you might need to fill out periodic reports or trademark forms. You will also likely need to obtain a federal employer identification number (EIN).
If you’re unsure which forms you need to complete, consult with a business lawyer in Texas. They will ensure you’re on the right track with the forms and fees necessary to start your small business.
Important Laws to Understand when Starting a Business in Texas
There are a few essential laws that every small business owner should know in Texas. These laws govern how you can advertise your business, how to handle employees, and more.
Fair Labor and Standard Act
This act applies to specific business owners, including those with at least $500,000 in annual sales, hospitals, schools, government agencies, and businesses engaging in interstate commerce.
The FLSA law requires employers to pay their employees at least $7.25 per hour. Employees must also be paid overtime pay after working 40 hours a week. The overtime rate needs to be at least one and one-half times the regular salary.
Equal Pay Act
The Equal Pay Act is a law that makes it illegal to pay men and women different wages for the same job in the same workplace. The Equal Employment Opportunity Commission (EEOC) is responsible for enforcing this act in private businesses, no matter how big or small they are.
Title VII of the Civil Rights Act of 1964 (Title 7)
This law applies to private businesses with 15 or more employees. The law prohibits discrimination based on race, color, religion, national origin, and sex. Additionally, this includes discrimination against pregnant people who just had a baby or have related medical conditions. The Equal Employment Opportunity Commission (EEOC) also enforces this law.
There are a few laws you should know about before starting your small business. There are many more laws, so learning and understanding them is essential before opening your doors. The Department of Labor and the Texas Workforce Commission can help you get started. If you have any questions or concerns, you might want to contact a Business Lawyer.
Starting a business is an exciting time for you as an entrepreneur. However, you want to make sure that you are following the law. Depending on the type of business you are starting, different rules may apply to you.
Why hire a Business Lawyer in Texas?
If you are starting a small business, it is crucial to speak with an attorney. Consulting with an attorney will ensure that you follow the law from the beginning. A business lawyer can help you choose the right type of business and explain the different licenses and forms you need to get.
Even if you have already started a business, talking to an attorney is still good. They can help make sure that you are following the law, and they can help you change anything that needs to be changed.
Dooley Noted Law is a small business law firm in Texas. Ultimately, we want to help Texas small business owners be successful. Contact us today to see how we can help you achieve your vision and goals.
The contents of this post, and the posting and viewing of the information on this post, should not be construed as, and should not be relied upon for, legal advice in any particular circumstance or fact situation. An attorney should be contacted for advice on specific legal issues.
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