How to Legally Exist as a Sole Proprietorship
What are the filing requirements for a Sole Proprietorship?
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Final answer:
The notion that a sole proprietorship has no filing requirements is false.
Starting a sole proprietorship, like Wayne Lewis' plumbing services, comes with certain filing requirements to legally exist as a business entity.
A sole proprietorship is the simplest business form, but it still involves basic filings, mainly related to local and state regulations.
If Wayne operates under a name different from his own, he may need to file a Doing Business As (DBA) statement with his local government.
Additionally, there might be licensing, zoning, and permit requirements at the local, state, and federal levels that need to be complied with.
Even though there isn't a specific "Sole Proprietorship" license, there are other permits and licenses necessary for operation.