Business setup guides

Setting up the business comes before business credit or funding: forming the LLC, getting an EIN, opening a bank account and keeping clean books. These guides cover each step with the fees and rules your state, the IRS and Dun & Bradstreet publish, plus a checklist that tracks your progress in this browser.

$100median LLC state filing feeSources in this guide

$35–$500LLC filing fees, lowest to highest stateSources in this guide

$0cost of an EIN from the IRSSources in this guide

11business checking accounts we comparedSources in this guide

Should I form an LLC or stay a sole proprietor?

The SBA says an LLC protects your personal assets in most cases, and some business credit products only accept LLCs and corporations. The cost is state fees, which we list for all 50 states and DC, plus a registered agent.

Sole proprietor vs LLC: liability, taxes and cost (2026)A sole proprietor can be personally liable for business debts; an LLC usually protects you. How each is taxed by default, and what an LLC costs.LLC cost by state: filing fees and annual reports (2026)LLC filing fees and annual report costs for all 50 states and DC, read off each state's own website and dated. Look up yours in one click.What is a registered agent, and does your LLC need one?An LLC needs a registered agent in its state. What the agent does, the address rules, and whether you can be your own, from state filing offices.

What do I need once the business is formed?

An EIN, free from the IRS, and a business bank account. We compared 11 accounts on monthly fees, opening deposits and whether they take sole proprietors.

How to get an EIN for your business (free, from the IRS)Get an EIN free from the IRS online, by fax or by mail. The online hours, who can apply online, how long each method takes, and what to skip.What you need to open a business bank account (2026)The documents banks ask for by business type, and 11 business checking accounts compared on monthly fee, opening deposit and sole proprietor rules.Business address options: PO Box, private mailbox, home or registered agentWhat USPS, state filing offices and banks allow for a business address: PO Boxes, private mailboxes, registered agent addresses and your home.BOI reporting in 2026: do US small businesses still have to file?FinCEN's final rule exempts every US-formed company from BOI reporting. Who still files, New York's separate rule, and how to spot BOI scams.

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Frequently asked questions

How much does it cost to form an LLC?

State filing fees run from $35 in Montana to $500 in Massachusetts, with a median of $100. See LLC cost by state.

Do I need a registered agent for my LLC?

Yes. The SBA says you'll need one in your state before you file. See registered agent explained.

Is an EIN free?

Yes. The IRS issues EINs at no cost, and applying online is fastest. Steps are in how to get an EIN.

Can a sole proprietor open a business bank account?

At most banks we checked, yes. Mercury doesn't accept sole proprietorships. See business bank account requirements.