new business Checklist

Nothing can substitute for the benefits of having a good accountant and attorney to help you along your way toward starting a new business. A good way to begin your own research is to contact your town hall. Ordinances and regulations vary from town to town. 

​Here is a checklist from the Cape Cod Business Journal for starting a new business.
​(This is not meant to be a substitute for a good accountant or attorney.)

Ask your accountant about:
* Federal tax ID number
* State tax ID number
* State unemployment insurance withholding
* State sales tax number and filings
* Federal unemployment insurance withholding
* Federal payroll withholding filings and forms
* State payroll withholding filings and forms
* Employer’s contribution to Social Security
* W-4 forms for employees
* Immigration forms for employees
* State corporate minimum tax
* State and federal corporate tax returns
* State Department of Corporations annual filings
* Quarterly payroll withholding forms and coupons
* Setting up a simple bookkeeping system
* Companies that handle payroll for you
* Preparing income statements and balance sheets
Ask local merchants about buying or leasing:
* Personal computers
* Photocopiers
* Telephone systems
* Furniture

​Ask your insurance agent about:
* Business owner’s insurance (to cover equipment)
* Insurance to cover premises and contents
* Liability insurance to cover you and employees
* Workmen’s compensation insurance
* Auto insurance for company vehicles and drivers
* Group health insurance and state laws requiring it
* Group dental insurance
* Group term life insurance
* Business interruption insurance
* Disability insurance for you and employees
* Listing landlord and owners of leased equipment on
fire and theft insurance policies

Ask your bank about:
* Business checking acct, checks, deposit stamp
* Business Master Card or VISA card
* Business line of credit
* Being a Master Card-VISA merchant
* Depositing federal payroll withholding at the bank

​Ask your attorney about:
* The pros and cons of sole proprietorships,
partnerships, and incorporation
* Incorporation papers and filing fees
* Corporate resolutions, bylaws, and minutes
* Corporate stock authorization, and issuing
* Leases for equipment, office space, and vehicles
* Contracts between you and employees,
suppliers, and customers
* The benefits of written personnel policies and procedures
* State, county, and local licenses for such things as alcohol, food, milk, elevators, plumbing, electrical work, fishing, street vending, entertainment, video games, juke boxes, lodging, fire safety, occupancy,
and shellfishing.
* Music copyright licenses from ASCAP and BMI

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