Amanda Howard, Esq.
Starting your healthcare practice is nothing short of exciting and exhilarating. In fact, you may be so excited you forget about certain legal requirements. Below are some steps you’ll need to take at the beginning to be legally compliant to ensure your practice gets started off on the right foot.
- Understand your industry laws and regulations: Dental professionals and businesses have to abide by different laws and regulations than veterinarians do. Consult with a lawyer to understand what is required of you and/or your healthcare business.
- Entity Formation: You will likely choose a limited liability company or corporation for your entity structure. You must prepare and file the proper articles to get the business started.
- Tax Treatment: If your business prefers a tax treatment that is not the default tax treatment of the selected structure, you must elect your preferred tax status through the IRS.
- Obtain an EIN: An EIN is like the social security number of your business. If you have employees or a business bank account (which you should), you need an EIN.
- Create a Business Bank Account: You should open a bank account for the business only so you don’t commingle business funds with personal funds. Doing so can open you up to personal liability for business obligations.
- Obtain state specific permits or licenses: Many counties/cities require businesses to obtain licenses for doing business in such county or city. You may also need to obtain certain permits for using, storing and disposing biomedical waste.
Get Help
As a boutique law firm dedicated to supporting the healthcare community, our goal is to ensure our clients are protected. If you have questions about getting your business started, contact us at Florida Healthcare Law Firm to set up a consultation today.
