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Paperwork

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Topic: Paperwork
Posted By: Guests
Subject: Paperwork
Date Posted: 10/28/04 at 8:47pm
I am doing an assignment in one of my classes and I was wondering if anyone could help. I need to know what the paper work would be for starting up a community theatre in a town. Please help!!!



Replies:
Posted By: dougb
Date Posted: 10/29/04 at 12:05pm

This is going to change a lot depending on what state you live in.

The Articles of Incorporation are first.  After you make these up, you need to file them with your Secretary of State.  Then you will receive your Certificate of Incorporation from your state.  You need to file a Notice of Registered Agent with your state .  (Many times this is included with your initial filing.)  Next are the By-laws - these need to be approved by your Board of Directors.

Then you need business licenses from the state, county and city.  The scope of these licenses will be determined in part by just what you want to do.  Many states require a "Charitable Solicitation" permit if you are going to raise money publically.  You will need a permit to sell alcoholic beverages before your performances.  You need to open an account with the state (or local taxing authority) to collect and forward sales tax.  Depending on your state, you may want to get a sales tax exemption certificate (exempt from paying not collecting and forwarding).  You will need a Employer Identification Number from the IRS.  You need to get several types of insurance.

You probably will need an inspection by the local fire inspector and additional permits if you store flamable materials like paint.  You might need a hazardous material permit.  Our state (Washington) has a "Master" permit they issue that lists all of the other state permits you need.  Our County requires studies and permits for parking and traffic patterns.

If you are going to have employees, you need to determine what benefits they will get (health coverage, retirement, 401(k)) and set up the appropriate accounts with the providers of these services.  You need to set up the necessary accounts with Social Security and the IRS for payroll withholdings.  If you have a state income tax you need to set up the necessary state accounts.

You need to open one or more bank accounts and these will take Board resolutions.  At some point you will want to file for your 501(c)(3) determination from the IRS.

This pretty much will get your doors open.  There is a lot of ongoing paperwork but this is a short summary of getting started in business.

Doesn't seem worth it does it?




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