To establish a sole proprietorship, a person needs to

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To establish a sole proprietorship, the primary requirement is to obtain any necessary local and state licenses or permits, depending on the type of business. This is because a sole proprietorship is not a separate legal entity from its owner, simplifying its formation process compared to corporations or partnerships. There's no need for legalizing financial documents in the context of formation, assuming shares in the profits doesn't apply as the sole proprietor has full claim to all profits, and there's no concept of owner stock in a sole proprietorship since it's not a corporation.

To Establish a Sole Proprietorship, a Person Needs to