What are the different types of Business Licenses?
A Business License is a certificate issued by a City, County or State Government to a company. The license legally verifies it’s right to operate and proof of ownership. Lenders require a license to close a business loan. Many other types of transactions require a license as proof the business exists.
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F.A.Q.: Frequently asked questions on needing a copy of a business license
Is a license required to get a business loan?
A business license can be required by the lender. It legally proves that your company exists and verifies the exact legal name in which all contracts and documents are written.
What if we are a home based business?
A residential address is almost always accepted by counties, cities and states.
For any company that is home based and rents their location, the landlord’s signature may be required to show the approval of the property owner.
What do we need to have to get a business license?
A current driver’s license at minimum, valid business address and payment. The Tax Identification number may also be requested.
How fast can we get it?
A temporary license can be issued when applying and the hard copy is sent regular mail.
Businesses that interact with the general public must post their license immediately.
Where do we get a business license?
Business licenses are issued in the city or county for the address the company is located in.
How much does it cost?
Licenses are usually a flat rate for Corporations at the State level. City
and county charges are often a percentage of gross receipts. The higher the gross receipts, the higher the cost.
How long is it good for?
Most business licenses and articles of incorporation are good for 1 year. States may let companies purchase the license for several years in advance.
What if my state doesn’t require a business license?
Some States do not require one. However, it is in the interest of your business to get a license. Many other companies will request proof of the existence of your company for certain transactions such as contracts, leases and banking.
What is a dba?
DBA stands for doing business as. This is called a fictitious name and how the company is known to the public. As an example, Acme, Inc. dba all star tire.
Is there an inspection of my location before approval?
Inspections are rarely done if the business is not a retail location and does not
serve food and beverage.
Does the name of the owner have to be on the business license?
The name of the business owner does not legally have to be on it. Sole proprietorship licenses do show the owner’s name. Corporations have the names of the owners on the original articles of incorporation and ownership updates at the Secretary of State.
Copy of Business License
Examples:
Business Licenses fall into certain Categories.
– General City or County license.
– Professional Licenses.
Get a business license or articles of incorporation if you are new or start up company because you will need this to operate your business later and get financing. Professional licenses are often in addition to professional licenses.
For example, medical licenses such as a physician, dentist and chiropractors require additional licenses. Other types of Professional Licenses can include certain types of Construction, Engineering, Real Estate Agents and many more.
These types of Professional licenses are often in addition to a standard business license required by the city or state.
Did you know?
Some business legally operate without a License?
Some States do not require a business license to legally operate.
States may allow, but it can make operating much more difficult.
Larger Companies may require that a Company has a license to business with them and will not waive their requirement.
It will not matter to them if the State does not require it and will still require one. Get a license. If your Company is a Sole Proprietor, save all of the old licenses that you had.
Learn more about Business Licences.
Recent examples from the Web:
Consequences of not having a business license.