Frequently Asked Questions

A: Labor Law Posters are mandated by federal and state labor laws. They inform employees of their rights and your business's obligations. Failure to display these posters may result in significant fines and legal penalties.

A: Required Labor Law Posters can be obtained from official government websites, or through authorized vendors that provide up-to-date and compliant poster packages. It is your responsibility to ensure the posters are current.

A: A Certificate of Status, sometimes referred to as a Certificate of Good Standing, is an official document issued by the state verifying that a business entity is legally registered and compliant with state regulations. This document may be required for various business transactions, including loan applications and contract negotiations.

A: An Employer Identification Number (EIN) is a nine-digit number assigned by the Internal Revenue Service (IRS) to identify business entities. It is required for various purposes, including opening business bank accounts, filing taxes, and hiring employees.

A: EIN applications can be submitted online through the OIRS website.

A: An Operating Agreement is a legal document that outlines the ownership and operating procedures of a Limited Liability Company (LLC). While not always legally mandated, it is strongly recommended to establish clear guidelines and prevent internal disputes. 

A: Articles of Incorporation are legal documents filed with the state to formally establish a corporation. They are required for all corporations and must include essential information such as the corporation's name, purpose, and registered agent.

A: Articles of Incorporation must be filed with the appropriate state agency, typically the Secretary of State's office. Fees and filing procedures vary by state.

A: An annual filing is a report submitted to the state to maintain a business entity's active status and comply with state regulations. Failure to file annual reports may result in penalties, including the dissolution of the business.