Starting a Business in Phoenix AZ?

Hi guys, need some help..I want to open a business in Software Consulting. Now what are the first steps to start and where do I need to go.
Following are the steps are I know, that I have to follow, but still need some help
1.) Register a Business name……WHERE??
2.) Get State Tax Ids….WHERE??
3.) Get Federal Tax ID, ETIN……….Its on
4.) Get a Business License…..WHERE??
5.) Open a Business Account…..Any Bank is fine I guess

Am I missing any important step….Please let me know…Thanks a lot

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Where you register in AZ depends on what kind of business entity you have. If you are you doing business just as a person, in your own name, don’t need to register a “trade” name. However, if you want to be known as “Software Advisers”, or whatever DBA name you desire, then you have to register that name with the AZ Secretary of State. If you want to register as a corporation or LLC, you have to do that with the AZ Corporation Commission. A tax attorney or CPA will be the best to advise you on the form of business to take.

The City of Phoenix does not have or require a “general” business license. Only certain activities are regulated and require a license/permit from the City of Phoenix. See the link below.

Phoenix also only collects sales/use tax on certain business types, and it doesn’t appear that “consulting” is one of those activities; so you probably don’t even need an AZ Tax #, but check with the city just to make sure.

And if you are doing business in your own name, then you don’t even need a Federal Tax ID #. You simply file a regular 1040 tax return and itemize your business activities on Schedule C. You will also be responsible for paying your own Social Security and Self-employment taxes on a quarterly basis, rather than just at the end of the year, in order to avoid paying a “late” penalty. Again, check with a tax adviser for your specific situation.

As for which bank to use, not all banks are the same. For small businesses, it is usually best to develop a relationship with a small, local bank rather than a large national one. The local bank (or credit union) will have services designed to help small businesses like yours and they have more time for you than the traditional larger banks.

The Small Business Development Center Small Business Development Center (SBDC) Maricopa Community College offer mentoring and classes for new business owners and provides free counseling on important issues such as business planning, licensing, registering a business, financing and new business regulations.

Contact the City of Phoenix to determine the professional and occupational licenses required to open your business. The Arizona Department of Commerce offers an interactive web site with forms for applications for permits and licenses.

A U.S. Federal Employer Identification number (EIN) is required by all individuals opening a new business. The Internal Revenue Service website (see Resources) provides applications.

It is the responsibility of every new business owner to be aware of their tax obligations. Contact your tax adviser or the Arizona Department of Revenue to determine the state taxes that apply to your business. You may be liable for sales tax, property tax and employment taxes.

Participate and be pro-active in groups organized to promote city growth, development and pride. The Economic Club of Phoenix, Enterprise Network, the Association for Corporate Growth and the Phoenix Chamber of Commerce welcome new members and have many helpful programs that benefit new ventures.

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