When starting a business there are a number of important questions that may come up. One question may concern registration requirements for your business. Some business types must be registered with the state government. Business types that generally must be registered with your state government include corporations, limited liability companies and partnerships. Sole proprietorships, however, are not required to register with their state government but, at times, there may be important requirements in place of registration.
In Louisiana, however, though sole proprietorships are not required to register assumed names with the state, all other business types are required to be registered with the state. There are a number of important reasons to carefully evaluate the selection of business form when starting a business. Equally important, however, is understanding the legal requirements and obligations of each business type. It is important to be familiar with legal requirements of each business type and how to comply with them to ensure compliance.
Each business type has benefits, advantages, requirements and obligations concerning tax and other legal issues. Knowledge of how to select the best business form for your business endeavor can help get the business started off on the appropriate footing but can also help facilitate the future success of the business. There are a number of choices when selecting a business form so it is worthwhile to carefully consider each before deciding. Make sure you carefully understand the characteristics, and legal requirements, of each business type when embarking on the exciting adventure that is entrepreneurship.
Source: U.S. Small Business Administration, "Register with State Agencies," Accessed, Sept. 7, 2015