Okay. What legal regulations or filings do you have to undertake to be a sole proprietorship
Well, in a prior video, we discuss that to form a sole proprietorship
you simply have to carry on an activity for an intended profit or loss
You don't have to file with the state in order to be a sole proprietorship
Now, there are situations where you can file or announce a post your entity status with the state or locality and in some cases you're
required to um so you can make the public aware that you do business as um as a particular type of business entity
So to start with one of those is the doing business uh as or the business name
registration requirements that your locality or in some situations your state will require that is if I am doing business as Jason
Gordon, then I'm readily identifiable. I don't have to file an alternative business entity name anywhere
But if I'm doing carrying on commercial activity as the business professor
In that situation, I would need to make a doing business as or fictitious name filing in the localities
where I directly carry on business where I have a business presence to make individuals who deal with my business aware
at least should be aware through public record that the business entity belongs to me and my sole proprietorship ship
My commercial activity is being carried on under that business name. So that's a fictitious name filing or doing business as name
filing that you'll register. Generally with the local local government, typically at the courthouse in some states
it may be that you can make that filing through the State Secretary of State's office
Um And the next requirement is your generally gonna have to get a business license wherever you're carrying on business activity
Now, this is true for any business entity type, but it's not something to be forgotten
If you're carrying on commercial activity in that area or jurisdiction, you need to seek um a business license from
that local governing body in order to legally carry on that business activity