Starting a business doesn’t have to be a difficult endeavor. In Missouri, establishing a sole proprietorship is a pretty simple process. We’ll outline the procedures for establishing a sole proprietorship in this post and address some associated queries.
An individual owns and runs a business as a sole proprietor in this form of business structure. This is the most basic and typical kind of business entity. As a sole proprietor, you are individually responsible for the company’s debts and liabilities. You do, however, keep all earnings and are in total charge of the company.
The first step is to select a business name. The selection of a business name is the first step in establishing a sole proprietorship. This can either be your real name or a made-up name. You must register a fictitious name with the Missouri Secretary of State’s office if you decide to use one. This is sometimes referred to as a DBA (doing business as) or a registration for a false name.
Step 2: File a Business Registration Form You must register your business with the Missouri Secretary of State’s office once you have a business name. A “Registration of Fictitious Name” form must be submitted together with a fee in order to do this. This can be done by mail or online.
Step 3: Acquire the Required Licenses and Permits You might need to apply for licenses and permissions from the state or local government depending on the nature of your firm. For instance, you’ll need a food service permit if you’re opening a food truck. Find out which licenses and permissions you require using the Missouri Business Portal. Step 4 is to apply for an EIN. The IRS will provide your company a special identifying number called an EIN (Employer identifying Number). If you want to submit business taxes, recruit staff, or open a business bank account, you’ll need an EIN. On the IRS website, you can submit an online application for an EIN. Related questions include:
A DBA (doing business as) or fictitious name is a moniker used by a business to conduct its operations that is distinct from the owner’s legal name. For instance, if your name is John Smith and you run a company under the name “John Smith’s Handyman Service,” you would need to file a DBA or fake name registration under that name.
LLC ownership information is not made public in Missouri. However, you can file a written request and pay a fee to obtain this information from the Missouri Secretary of State’s office. Is it possible for me to act as my own registered agent in Missouri? In Missouri, you are permitted to act as your own registered agent. However, you are need to have a Missouri physical address where process can be served during regular business hours. You must use a registered agent service if you don’t have a Missouri physical address.
A DBA (Doing Business As), often known as a fictitious name, is a name used to conduct business by a sole proprietorship, partnership, or corporation that differs from the legal name of the owner or owners of the company. If you wish to conduct business as a sole proprietor in Missouri using a name other than your legal name, you must register a DBA.
Yes, Missouri LLCs (Limited Liability Companies) must be renewed annually by submitting an Annual Report to the Secretary of State’s office. The state has the authority to administratively dissolve an LLC if it does not submit the required Annual Report. It’s important to remember, though, that the LLC itself remains active until the owners dissolve it or otherwise terminate it.