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I am looking to excel in the ownership of retail businesses and real estate investments. Forever striving to become financially independent.I describe myself as a very straight forward person who like to take things in stride, when possible. Life is very exciting and has lots of opportunites and experiences to offer and I feel that I should always make the right use of it. I believe that I should always strive towards individual betterment in whichever form it may be.

Wednesday, August 25, 2010

How to Open a Business in California




Opening a business, no matter what kind you choose, is one of the most challenging and rewarding tasks anyone could undertake. It requires a great deal of planning, preparation and hard work, but in time could offer freedom, financial benefits and a sense of accomplishment. Like all states, California offers many resources to help new business owners get started on the right track. Tackle all the aspects critical to starting a business to get off on the right foot.

Instructions

1. You need to make out a business plan.  There is plenty of help online and you can also go to the SBA for assistance.


2.  Set up tax accounts. Contact the IRS to secure a federal tax ID # and income tax accounts for your businesses. If you will be collecting sales tax, set up an account with the California State Board of Equalization. Contact the California State Department for payroll and workmen's compensation accounts.


3.  Choose a business structure, whether it is sole proprietorship, corporation, or LLC, and register with the California State Department. The California State Department's main office is located at 1500 11th Street Sacramento, CA 95814, or they can be reached by phones at 916-657-5448. They do not accept faxed applications or correspondence from the public.



4.  Secure all required licenses. Every business in California requires a state business license, though certain types of companies, such as construction or medical, require additional licenses as well. Contact your local city or county government to see if any local licenses or permits are required, then obtain a state license through the California State Department.


5.  Organize franchise, corporate or personal income tax accounts in preparation for your business by contacting the California Franchise Tax Board. You can visit their office at 300 S. Spring Street, Suite 5704 Los Angeles, CA 90013-1265, or they can be reached by phone at 800-852-5711.


6.  Apply for California State Identification numbers, unemployment accounts and employee disability at the California Employment Development Department. There are branches throughout California, with the main office located at 2901 50th St Sacramento, CA 95817. They can be reached by phone at 916-227-0301 or fax at 916-227-0208.

If anyone has anything to add, please feel free to do so.....









 

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