Business Entity Regulations Paper Essay Example | Topics and Well Written Essays - 500 words

Business Entity Regulations Paper - Essay Example Next comes the most important part. If it is in the form of sole proprietorship or general partnership, the entity might not require registrations but if it in the form of Corporations, LLCs or LLPs or limited partnerships, it requires business filings with the Kansas Secretary of State. Also, if the business is in the form of partnership (limited or limited liability), non-profit, limited liability company or an corporation, the entity has to be registered with the State of Kansas. The business entity is granted an Employer Identification Number (EIN) which is a federal tax identification number. It is essential for the employers to have EIN before they hire any person. Apart from these mandatory factors, the entity also has to be registered for the state taxes and try and obtain businesses licenses and permits from the state as well as the local governments to function legally. Last but not the least, for the start-ups, guidance are provided to hire the employees at the first place. The annual filling report can be obtained electronically or online. At the outset, the name of the business entity and the identification number of business identification as per Secretary of State’s record has to be entered. The business entity (Lario Oil and Natural Gas in this case) should have delinquent and active status to file online. Also the business entity must possess credit card facility and checking account. As the Lario Oil and Gas Company is a profit entity, it has to pay a flat fee of USD 50. The due date for the annual report can be found by conducting a business entity search or contacting the office of the Secretary of State. The other important aspect of the procedure is that the online option is applicable only to the companies having addresses at the United States and Canada. If the company has address in any of the other nations, it has to mail the annual report in paper document to the