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In this day and age, the digital world offers more than just platforms to connect with family and friends. With the advancement in technology, these platforms can now be used for something profitable.
But just like any other business, an online store also needs to undergo proper registration to the state government. For instance, if you live in Florida, you need to find out what the process is to register your online business, how much does an LLC cost in Florida, and what other requirements are needed.
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Legal Steps to Start an Online Business
Working online gives not only financial freedom but the flexibility of when and where you can work. This is one of the main reasons why many individuals pursue starting an online business. However, even if your business only exists online, you should still go through the legal process of setting it up.
1. Choose a business structure.
Many new online businesses are created under an LLC because of liability concerns. Opting to set up an LLC for your online business, your personal assets are protected from company troubles.
Another advantage of an LLC is that it is easy to set up and the requirements are straightforward to understand and accomplished. Although there are fees to be paid, they are usually of minimal cost. LLC cost includes filing fee, registered agent fee, name reservation, permits and licenses fee and other fees the state requires. For businesses in Florida, the state filing fee is $125.
2. Choose a name for your online business.
The next step is to pick the name of your online business. In picking a business name, you need to consider factors such as the ease of spelling and pronunciation, the uniqueness of the name, meeting the state requirements, availability in social media username and domain.
3. File for sales tax and licensing.
If the nature of your online business involves selling products or services, then filing for a sales tax and acquiring licensing is a requirement you need to accomplish. Any business that sells products or services involves collecting and paying sales tax for every transaction.
These taxes are typically based on the state where you formed and registered your business. To make sure of the details on how to obtain a business license to pay sales tax, you can cohere with the local government guidelines.
4. Launch your website.
Once you have purchased a domain and web hosting, you can officially launch your website. However, before doing so, you need to make sure that everything is in place with your website since this will be the main platform you have to interact with your customers. You can opt to work with a professional web designer to make sure your page looks and functions properly. Testing your website before the launch is also a wise move. Following the official launch, you need to also work on content, SEO, and marketing to gain more customers.
5. Keep your privacy policy updated
In starting an online store, you’re obtaining and keeping your customers’ personal information. This is why it’s important to update your privacy policy in accordance with the Data Privacy Act.
Other aspects you should consider in starting an online store is making sure to have excellent cyber security to protect your information as well as your customers’. This is to prevent hackers from stealing important information that might lead to a bigger problem such as lawsuits. Keeping in track of legal aspects will help you start your online store successfully.
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