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How To Start A Business In North Dakota

How To Start A North Dakota Business In 4 Steps

/ Business Law

Step 1: Hire Us (or another law firm like us).

Why?

You want to minimize your liability. You minimize your liability by forming and organizing your business the right way. We help you choose the right business form (such as c corporation, s corporation, professional corporation, limited liability company, professional limited liability company, limited partnership, limited liability limited partnership, or limited liability limited partnership), prepare and submit your Articles (or, in some cases, certificates), prepare your owner documents (such as an Operating Agreement, Shareholder Agreement, Partnership Agreement, or Buy/Sell Agreement), and prepare your minute book. If you don’t do this correctly, someone may be able to “pierce the veil” and hold you liable.

You want to make sure you have made all necessary filings with the State of North Dakota. Every business must prepare documents related to Workforce Safety and Insurance (WSI), Job Service North Dakota, and the Tax Commissioner. We help you prepare and file the correct documents. We also help you navigate issues that may arise with these forms.

You want to make this simple. We coordinate the whole process for you. We act as your point person to make sure you form and organize your business the right way. We coordinate all the steps you must take to become operational. We work with your accountant as to tax issues, your bank to help open your account, and your insurance agent to get insurance. We work with WSI, Job Service, and the Tax Commissioner to make the correct filings. All this means we save you time. Your time has value, and your time is probably better spent on business operations instead of legal issues.

You want to address other legal risks. We help you identify other legal issues you need to address. For example, you may be forming a property holding company. A lease is going to be very important to minimizing liability risk. Or you may be forming a contracting business. You should have a contractor agreement or subcontractor agreement. You may be hiring employees and need an employment agreement. You may be purchasing assets to use for your business. We identify and assist with these legal issues.

Step 2: Hire a Good Accountant.

Why?

You want to minimize tax liability. A good accountant can help with that, and can also provide you with counsel regarding your business decisions. We work with many good accountants, and we can help you find the right one.

Step 3: Get a Good Bank/Banker.

Why?

You’ll need to deposit your money somewhere. You also may need financing. A good banker will help you with these issues. We work with many good banks, and we can help you find the right one.

Step 4: Hire a Good Insurance Agent.

Why?

You want to minimize your liability. We help you minimize legal liability, but you can double up your protection with insurance policies. A good insurance agent will help shift risk. We work with many good insurance agents, and we can help you find the right one.

If you are thinking about forming a business in North Dakota, please give Adam a call at 701-297-2890 or email him at adam.wogsland@swlattorneys.com.

This post is for informational purposes only. Contact an attorney if you have any questions about forming businesses.