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Urgent Help please!: Starting Sole Proprietorship Business in Maryland

by skoemha, Window Shopper

  • Created: October 5, 2009, 11:12 pm
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2 comments

Hi All, 

 

I would appreciate your help to guide me the steps need to follow to start my Sole Proprietorship Business in Maryland.

 

It will be IT/Web Solutions Business and all I need is to get a License for that and to open a Business Bank Account (DBA).

 

I don't know from where I can start, I went to SBA and was not so helpful.  According to my information I just need to Register my Business with my SSN and I won't need EIN as I will be working alone and from home.

 

Thanks in advance for your help.

 

Best,

 

Sam

 

Tags: Discuss Popular Topics, Starting & Registering a Business
‹ multi-state tax complications Multiple companies at one residential address ›

ChristineL | Former Moderator | 10/6/2009 - 10:40 am

Hi skoemha, Have you taken a look at 10 Steps to Start a Business? It has wealth of information about registering, incorporation, taxes, permits, etc., that may be useful to you. Since your business will be home-based, I suggest you check out our Home Based Business Guide as well. You mentioned that you wanted to start a sole proprietorship- have you considered other business incorporations? We wrote a great blog about different legal structures that gives an easy breakdown of your options. Fireplace-Guy also mentioed a LLC, which we blogged about in Should my Companybe an LLC or S-Corp? In terms of steps to registering your business, you will want to check out MD's Department of Assessment and Taxation. Thanks Fireplace-Guy for the input! If anyone has suggestions or experience in this area, please feel free to add!

Fireplace-Guy | Creator | 10/6/2009 - 9:04 am

You should consider an LLC instead of a Sole Prop; this will limit your liability from your personal assets and your business assets, not to mention taxes are much easier. You can get the information from your secertary of state on LLCs.
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