01 - Start-Up Checklist
Starting a new business requires navigating a complex set of legal and financial obligations. This checklist serves as a comprehensive guide to the essential administrative and tax tasks required to properly establish and maintain your operation. It details the complexity of each task, the process required (manual or system-based), whether the task is required by law (like the Certificate of Formation and tax filings), and the responsible party—either a CPA (Certified Public Accountant) or a Lawyer, who can ensure compliance and save valuable time. Key tasks range from initial formation documents and obtaining your Federal ID to ongoing responsibilities like New Hire Reporting, managing Property Tax Rendition, and handling critical Employment and Sales Tax filings. Use this guide to streamline your setup process and focus on growing your business.
| Task | Complexity | Process | Required or Not | Responsibility |
|---|---|---|---|---|
| Certificate of Formation | Easy | Manual | Required | Lawyer or CPA |
| Federal Employer ID Number | Easy | Manual | Required | Lawyer or CPA |
| Sales Tax Permit | Easy | Manual | Required | Lawyer or CPA |
| Property Tax Rendition | Medium | Manual | Required | CPA |
| Unemployment Tax Account | Easy | Manual | Required | CPA |
| New Hire Reporting | Easy | Payroll System | Required | CPA |
| Tax Withholding | Easy | Payroll System | Required | CPA |
| Benefits | Medium | Payroll System or Plug-In | Not Required for under 50 employees | CPA |
| 401k | Medium | Manual | Not required | CPA |
| 1099 Annual Filings | Easy | System & Google Drive | Required | CPA |
| Sales Tax Filing | Easy | Hybrid | Required | CPA |
| BOI Filings | Medium | Manual | Required | CPA or Lawyer |
| Employment Taxes | Easy | System | Required | CPA |
