Sole Proprietorship, Partnership, or CorporationOnce you have decided on the business structure that best fits your needs, the next critical step is business registration. Depending on your structure and activities, you may also need to obtain specific licenses, permits, or tax accounts to operate legally under federal, provincial, or municipal regulations. Failure to register when…
GST/HST, Payroll, Import/Export, and More – Do You Need Them and How Do You Get Them? Once you register your business as a corporation, sole proprietorship, or partnership, or begin operating a business in your own name, you may be required to obtain a CRA Business Number (BN) and one or more CRA program accounts…
Sole Proprietorship, Partnership, or Corporation One of the most important decisions you will make when starting a small business is choosing the right business structure. This decision is crucial because it carries significant cost, legal, and tax implications. Selecting the appropriate structure from the beginning helps set your business up for long-term success and can…