Corporation: A corporation is considered by law to be a unique entity, separate and apart from those who own it.Limited Liability Partnership (LLP): A limited liability partnership provides limited liabilities to the partners where each partner is not responsible or liable for the other partner’s actions of negligence.Limited Liability Company (LLC): An LLC is designed to provide the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership.Like sole proprietorships, the law does not distinguish between the business and its owners. Partnership: In this organization, two or more people share ownership of a single business.These firms are owned by one person, usually the individual who has day-to-day responsibility for running the business. Sole proprietorship: The vast majority of small businesses start out as sole proprietorships.There are different forms of business organization. Decide on your business structure.Īll businesses must determine a legal organization that defines the rights and liabilities of participants in the business’s ownership, control, personal liability, lifespan and financial structure. Check for city and county licenses and permits, and obtain industry licenses.Register for business taxes in Missouri and/or Kansas.Obtain an Employer Identification Number (EIN).Register with the Missouri Secretary of State and/or Kansas Secretary of State.Let’s get started with your first six steps:
Need help? Give us a call at 86 or send us your question. Below, you’ll find the six steps you need to take to make sure you have the registrations, licenses and permits for your new business. Ready to start a business in Kansas City? You’ll want to make sure your business is legal.