Tools for New LLC Owners
Rasika Lakshan ·
Last updated:
This is general information, not legal or tax advice.
Who this is for: People who have just formed an LLC, or are about to, and want to know the order of the next steps and where free tools can help.
In short: After you register an LLC, the SBA lists these steps: get federal and state tax ID numbers, apply for licenses and permits, open a business bank account and get business insurance. Then you need a way to get paid and price your work. This page links to our free tools and guides for each step, and to the official sources.
Forming an LLC is the start, not the finish. This checklist follows the steps the SBA lists on its Launch your business page (read 2026-10-16) and points to our free tools and guides. It is general information, not legal, tax or insurance advice.
The SBA’s checklist, with tools
| SBA step | What the SBA says | Where to go |
|---|---|---|
| Pick your business location | Your location determines the taxes, zoning laws and regulations your business is subject to. | Check your state and city; see the LLC cost by state calculator for state fees. |
| Choose a business structure | An LLC or corporation can protect your personal property from lawsuits, but that protection has limits. | How to start an LLC |
| Choose your business name | Listed as a step on the checklist. | Business name generator (ideas only; check availability yourself) |
| Register your business | Listed as a step on the checklist. A formation service can file the paperwork for you; doola is one option, shown but not scored on Best LLC formation services. | How to start an LLC |
| Get federal and state tax ID numbers | You can open a business bank account once you have your federal EIN. | The IRS issues EINs for free; see the LLC guide |
| Apply for licenses and permits | Most small businesses need a combination of licenses and permits from both federal and state agencies; requirements and fees vary. | Check with the agencies that regulate your activity |
| Open a business bank account | Open one when you are ready to start accepting or spending money as your business. | Do you need a business bank account? and Best business bank accounts |
| Get business insurance | Business insurance can fill gaps in coverage; insure against things you could not pay for on your own. | Talk to an insurance agent |
After setup: getting paid and pricing
- Website and domain. If you need a website or a domain name, Hostinger sells domains and web hosting.
- Take payments. See how to accept credit card payments, card processing with no monthly fee and payment processing for small business.
- Invoice clients. Our free invoice generator makes a PDF with a payment link, and online invoices and payment links explains provider options.
- Price your work. Use the markup calculator, profit margin calculator and break-even calculator.
- Sales tax and payroll. Our sales tax calculator shows state base rates from official pages, and the paycheck calculator estimates federal withholding for employees.
A note on reporting
Our LLC guide cites FinCEN’s page saying U.S. companies are currently exempt from Beneficial Ownership Information reporting under its final rule. Check that page for changes.
What we did not verify
We did not verify state-by-state licensing requirements, insurance requirements for your business or state, or tax obligations beyond what our calculators state. The SBA’s own insurance page makes a claim about federal requirements for employers that we did not repeat because we could not confirm it; ask your state and an insurance agent.
Where to go next
Frequently asked questions
What should a new LLC do first?
The SBA's launch checklist lists picking a location, choosing a business structure and name, registering the business, getting federal and state tax ID numbers, applying for licenses and permits, opening a business bank account and getting business insurance. Our LLC guide covers the formation steps.
Do I need an EIN?
The SBA says you can open a business bank account once you have your federal EIN. The IRS issues EINs for free and says you never have to pay a fee for one; our LLC guide has the details.
Do I need licenses?
The SBA says most small businesses need a combination of licenses and permits from federal and state agencies, with requirements and fees varying by business activity, location and government rules. Check with the agencies that apply to you.
Do I need insurance?
The SBA says an LLC or corporation can protect your personal property from lawsuits, but that protection has limits, and business insurance can fill gaps; it advises insuring against things you could not pay for on your own. Talk to an insurance agent and check your state's requirements.
What free tools are here?
An LLC cost calculator by state, a business name generator, an invoice generator, a markup and margin calculator, a break-even calculator, a sales tax calculator and a paycheck calculator.
Is this legal advice?
No. It is a checklist. Ask an attorney or accountant about your own situation.
Keep reading
Sources
- SBA: Launch your business (checked 2026-10-16)
- doola: pricing (checked 2026-10-16)
- Hostinger (checked 2026-10-16)