• Licensing: Each state has different requirements for small business formation, and requirements may change if you plan to operate across state lines. Counties and/or cities oftentimes require licensing. Businesses operating within the City of Los Angeles must register with the City of Los Angeles’ Office of Finance.
• Legal registration documents: These documents prove the legal existence of your business, such as Articles of Incorporation for corporations or Articles of Organization for LLCs. You can find many vendors online who can help you obtain these records for a fee.
• Engage legal counsel: Consult professional legal advice on compliance with employment federal, state, and local laws, risk management, liability reduction, contracts and agreements, and taxes.
• Get an Employer Identification Number (EIN): Apply for an EIN and state and local tax IDs.
• Compile an employee handbook: This should outline your company culture, values, and expectations, including conduct, dress code, leave policies, benefits, and disciplinary actions.
• Keep your taxes in check: Follow relevant laws, policies, and regulations to pay proper taxes. Maintain up to date bookkeeping and hire a tax professional.
• Keeping accurate records: Keep accurate employee records and consult with employment law experts to stay updated on regulations and best practices.
• Shareholder agreement: This sets out what happens to stock in the company when someone dies, wants to retire, or otherwise wants to sell their interest to a third party.
• Partnership agreement: If you have a partner, you want to have a written agreement outlining the rights and responsibilities of each partner, under what circumstances the partnership can dissolve, and what is to happen during a dissolution.
• Open a business banking account: An LLC or corporation should have its own bank account. Avoid commingling business funds with personal funds.

Because these situations are extremely fact specific, it is important to speak to an experienced employment attorney about your situation to determine if you have a case. Contact Luna Legal Firm P.C. for a free phone consultation at info@lunalegalfirm.com.

Disclaimer: This is attorney advertising. This does not constitute a guarantee, warranty, or prediction regarding your legal matter. This does not constitute legal advice, nor does it create an attorney-client relationship. This is intended to serve as general public information. The laws on these subject matters change periodically, thus this information may not be up to date. Advertising by Luna Legal Firm P.C., 16501 Ventura Blvd. Suite 400, Encino, CA 91436.