![]() ![]() You might be asking yourself, "Why go through all of this if it's just a lemonade stand? What harm could be done?" Williams warned that neighbors or passersby often have the time and inclination to tattle. City and county officials in the jurisdiction where the business is located can outline the requirements, explain penalties for noncompliance, and provide the proper paperwork to get the process rolling. To secure a permit or a license, business owners need to fill out forms and pay a fee, which starts around $50. ![]() Williams said these officials can often be found in a community's finance or revenue departments. The first step is to search for more information on the website of the city and county where the business will be located, or just head down to your city hall to find the officials in charge. Make sure your kid's business is up to code, because anyone may decide to report the business to the authorities. Yes, any business needs a license, even if it's run by a kid the age of the person running the business does not matter. If your kids earn more than $400 on the venture, they may have to pay some type of tax.ĭid you know? Some successful companies were started by children as young as 9 years old. In addition to completing paperwork, such as forms to obtain a permit, you may have to pay taxes on the money the business earns. A business is a business, whatever the age of the person in charge.Īll businesses must adhere to certain legal requirements, and parents must understand these requirements to make sure their kids' businesses are legal. Having a business is a great way for children to focus their energy and efforts on something positive instead of sitting around the house. "For the typical lemonade stand, lawn-mowing business or snow-shoveling operation, young entrepreneurs will need to check with local officials to determine the compliance requirements," Williams said. Depending on the child's age, a parent will need to help. ![]() "Those rules can extend to just about every business, including those owned by a child."Īn increasing number of states and communities have started to make it easier for young entrepreneurs to make money, but in many communities, children and teens need to secure the right paperwork to run their businesses lawfully, according to Williams. "Cities, countries, and states have laws that require businesses to secure permits and licenses to operate," said Mark Williams, director of customer service operations at BizFilings. Believe it or not, neighbors will complain to have a business shut down if there aren't proper permits and paperwork. However, child-run businesses can run into problems if they're not legal. That's why letting them have neighborhood lemonade stands, yard sales or lawn-mowing businesses is a great way for them to learn responsibility and the value of a dollar. This article is for parents and guardians interested in helping kids start their own legal small businesses.Protect your children by making sure their business is legitimate.Having a business can teach children responsibility and good money sense.Kids' businesses are still businesses and need proper permits. ![]()
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