I was overjoyed to know that someone else could take care of state, county, town and city business license applications. Very professional company to work with.
Very responsive and seems this will be a great resource to build a relationship with. Both specialists I spoke with were confident, informative and very professional.
Background
Insurance brokers must obtain a business license in every state in which they plan to operate. Separate licenses may be required, depending on the types of insurance being sold. Lines of authority include, but are not limited to, life, health, property and casualty, travel, and title. The process of obtaining an agency license generally includes an application, supporting documentation, and a fee.
Managing business license requirements for the insurance industry
Learn about license requirements for your type of insurance business.
Business license considerations
State and local authorities issue specific business licenses and permits depending on your industry. In some cases, regulations require special education and unique credentials.
Businesses functioning without the proper license are generally penalized based on the size of the operation and the gravity of the offense.
Businesses functioning without the proper license are generally penalized based on the size of the operation and the gravity of the offense.
FAQs
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What is a business license?A business license is an approval or permit issued by a government agency that authorizes a business to operate within a specific jurisdiction. This license is often an additional requirement beyond the registration of a business at the state level. Whether a business is required to have a specific license depends on such factors as the nature of the business, types of products sold, and location.
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How often do business licenses renew?Businesses are often reliant upon their own compliance tracking to stay on top of renewals. While the licensing jurisdiction may send a renewal notice, entities should not rely on this reminder method. CT Corporation has developed a Client License Information Center, CLiC, to help manage the renewal process and avoid delinquent charges and fines.
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How long are business licenses valid?The term of a license is entirely dependent on the type of license. Some licenses are good for the life of the business while others must be renewed annually or every two years. However, laws can change frequently so businesses must stay abreast of changes that affect the term of their license.
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What is a sales tax ID?Although Sales and Use Tax registrations would seem to be the most basic of business license filings, the requirements can vary from state to state, county to county and sometimes even by municipality. These applications can be confusing and time consuming. Contact CT Corporation for assistance.
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What is an EIN?An EIN is a unique nine digit number assigned by the IRS is used to identify business entities and is also known by other names such as 'Federal Tax Identification Number' and 'Tax Identification Number (TIN)'.
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