New Business Tool Kit Chapter 2 – Registering With Tax Authorities

A significant task for the new business owner is assuring that the business properly complies with the extensive tax and information filing requirements imposed by various governmental agencies. Stiff penalties are commonly assessed if the required forms and returns are not properly prepared and timely filed.  There are several forms required to be filed when the business is started.  While this chapter is not intended to be an all-inclusive list of the filing requirements, it summarizes some of the more prominent requirements common to most businesses.  Many industries have specific filing requirements which are not part of this text but which, nevertheless, must not be overlooked.  Professionals with experience in your industry should be consulted to assure that any such filings are properly handled.