Every business owner has to make sure they comply with state and federal law, but some industries are more heavily regulated than others. When you work with business law attorney Frank Steinberg, you can be sure your business is in compliance with all of the regulations that apply to you.
General Government Regulations
Depending on the structure of your business—sole proprietorship, partnership, corporation, limited liability company, non-profit, etc.—you will have to comply with certain government regulations, regardless of the kind of business you are in.
Some of these requirements are internal, meaning you will have to keep careful records of the way you do business in case you are audited or sued. Corporations have the strictest requirements, including holding annual shareholder meetings, passing bylaws, and issuing stock to shareholders. They must keep meeting minutes, record stock transfers, and take additional steps to document their compliance with government regulations. Other business structures have fewer such requirements, but it is still a smart idea to keep good records.
Along with keeping internal records, most businesses also have external compliance requirements, including filing annual reports, paying taxes, and reporting changes within the business structure. At the federal level, you may be required to pay taxes and report your compliance with the Affordable Care Act. You must also remain in compliance with advertising, copyright, health & safety, and anti-discrimination laws.
Regulations Specific to Certain Industries
Certain industries are required to apply for federal and state licenses and permits. It’s important that you know whether your business requires a license of some kind. Businesses operating in the following industries typically do:
- Fish and wildlife
- Maritime transportation
- Mining and drilling
- Nuclear energy
- Radio and television broadcasting
- Transportation and logistics
Applying for and renewing the licenses and permits that are required of your industry is vital to the legal operation of your business.
Our Business Law Attorney Can Help
It can be difficult to keep your business compliant with local, state, and federal laws on top of running day-to-day operations. Trust our business law attorney to handle all of your legal matters, including licensing, taxes, filing reports, and following internal processes. In New Jersey, contact Steinberg Law, LLC to find out how we can help your business remain compliant.