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FREQUENTLY ASKED QUESTIONS |
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We hope you will find the
following Frequently Asked Questions
(FAQ) helpful.
Please note that the information
provided here is not guaranteed to
be accurate or correct. Furthermore
we have no ability to monitor the
websites or pages of the external
links. You should always consult
with a professional before making
any business decisions.
This and all other pages
listed at
www.businesspropertyconsultants.com
or suggested by Park Avenue
Consultants via these pages are
governed by our Terms Of Service
which can be read
HERE. |
How do I get a federal
Employer Identification Number
(EIN)?
One good way is to go to the IRS Web
site at www.irs.gov. On the left
side under Contents, click on
"Businesses". In the gray column on
the left of the page you will find a
Topics area; click on "Employer ID
Numbers". Then click on "How to
apply for an EIN." You can also read
about related topics on this Web
site.
Also note that on February 27, 2003,
SBA announced the launch of a new
Web-based system that enables SBA
customers to register their business
at the state level and to apply for
and receive their Federal Employer
Identification Number (FEIN) at the
same time, thereby saving time and
money, and reducing the paperwork
burden on the small business owner.
In the first week following its
launch on BusinessLaw.gov, which
receives approximately 250,000 hits
per week, 694 businesses used this
new E-Government service to obtain
an FEIN number. For more information
on this new system, please visit
http://www.businesslaw.gov |
Where can I learn more about
incorporating an Iowa small
business?
A good place is the Secretary of
State's Web site at
http://www.sos.state.ia.us On
the left side, click on "Business
Center," then click on "Choosing a
business organization in Iowa." You
will be presented with a list of
options. Familiarize yourself with
the options. It is possible to form
a corporation without the assistance
of an attorney, but not particularly
wise. There are many different tax
and legal implications to each
choice and we strongly recommend you
get professional assistance for
these decisions. Also, because there
are many other issues to consider
before starting a business, think
about calling your nearest SBDC
office for free and confidential
help.
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What permits or applications
do I need to start a business?
The forms (licensing, permits and
registrations) that you need to file
are very dependent on two issues:
what type of business ownership
format you choose (sole
proprietorship, LLC, Corporation)
and what type of business you are
forming. To start business in Iowa a
retail business needs to obtain a
sales tax permit. If your business
will have employees and pay wages
you will need an Employer
Identification Number (EIN) and an
Iowa Withholding Tax Registration.
The EIN is also required if you will
operate your business as a
partnership, corporation or limited
liability company. Certain types of
businesses need other permits, for
instance, restaurants need food
licenses and alcohol beverage
serving permits. In order to
determine whether your business
needs any permits, contact your
nearest Small Business Development
Center. |
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Do I need a special license
to operate a business?
Generally, when your business is
regulated by an Iowa licensing board
or authority, you will need to
acquire a license to conduct
business in Iowa. Most retail
businesses will only need a sales
tax permit. Professional services
and food businesses, restaurants,
grocery stores, and bars all need
special permits and licenses to
conduct business. Any business
having employees will need an
Employer Identification Number and
an Iowa withholding registration.
Each type of business and form of
business entity have unique
requirements. We would recommend a
visit to your nearest Small Business
Development Center to have your
specific concerns answered. You can
find the SBDC nearest you on this
Web site by going to SBDC Services
and then clicking on the Directory. |
Do I need a sales tax
permit? How do I get one?
A retail business needs a sales tax
permit if you are selling products
or services that have been specified
taxable by Iowa law. A business will
need to complete and file an Iowa
Business Tax Registration form.
These forms are available at all
SBDC offices as well as accounting
offices. When completed, there are
three ways to file: by mail, fax or
online.
Mail the form to: Registration
Services, Iowa Department of Revenue
and Finance, PO Box 10465, Des
Moines, IA 50306-0465, or fax it to
515-281-3906, or go on the Internet
at www.state.ia.us/tax and complete
an online registration. |
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Where can nonprofit
businesses in Iowa get help?
Iowa Nonprofit Resource Center
130 Grand Ave Court
Iowa City, IA 52242
Phone: 866-500-8980
E-mail:
nonprofit@uiowa.edu
Web site:
http://nonprofit.law.uiowa.edu |
Other nonprofit Web sites:
http://www.allianceonline.org
- The Alliance
The Alliance for Nonprofit
Management is the professional
association of individuals and
organizations devoted to improving
the management and governance
capacity of nonprofits - to assist
nonprofits in fulfilling their
mission. Includes nonprofit FAQs and
a nonprofit resource center.
http://www.nationalcne.org
- The National Center on Nonprofit
Enterprise
The NCNE helps managers and leaders
of nonprofit organizations make wise
economic decisions to ensure that
their organizations best serve their
members, clients, donors and the
general public by pursuing their
social missions efficiently and
effectively. The NCNE is a unique
knowledge reservoir that
consolidates, interprets and
synthesizes existing knowledge,
bridging academic research with
practice and policy. |
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How do I find a list of business
names?
The Iowa Secretary of State's
website (http://www.sos.state.ia.us)
has a database of corporations
registered in Iowa. From the
homepage, click on the "Business
Center" link located at the top left
of the page. Then click on the "Corp
Search" link. You will then be able
to perform a search to see if a name
has been registered in Iowa. We
cannot insure that the database is
up-to-date, so you may need to call
the Secretary of State's office at
515-281-5204 to verify that a name
is available. |
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How do I register a business name?
Registration of a business name
depends upon the form of business to
be used and upon the ‘range’ of the
business.
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A sole proprietorship or partnership
doing business in Iowa should stop
by their county recorders office to
file a “registration of Trade Name”
certificate. That form takes only a
few minutes to complete and have
notarized – total cost to you is
generally under $10. If you are
doing business locally and have
little concern about expanding long
term to become a large firm, then
that could be acceptable.
Please know that this process by no
means ‘copyrights’ your business
name – it does not give you
protection of the name outside the
county it is merely a registration
that you are doing business under
that name.
Should you form an LLC or
Corporation your attorney will help
you complete the filings needed to
register your company with the Iowa
Secretary of State.
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