Common business forms to start your company.
Starting a new business or striking out on your own as a freelancer is an exciting time. No matter how you get going, stay on top of the business forms and documents that can keep your work flowing. Let’s dive into some common forms you could benefit from having on hand in your business.
Choose the right forms for your business type.
Before you can get to work, you’ll need to consider how to structure your business. Most small businesses structure themselves as a limited liability company or LLC. If freelancing is more your speed, set up as a sole proprietorship. If you don’t want to go solo, consider the structure of a partnership. Know that each entity has a different tax form.
Here are some of the most common types of business forms you’ll need when starting up:
- Form 1065 (partnership)
- Form 1120 (corporations)
- 1040 Schedule C or 1040 C-EZ (sole proprietorship or self-employed)
Use the right business forms for your hiring preference.
If you hire contractors in your business, plan to use additional forms for tax purposes. The W-9 form estimates taxes owed by your workers who are U.S. citizens or permanent residents. This form allows you to obtain their tax identification information and is a foundation for financial documents, such as the 1099-NEC (Nonemployee Compensation form) or 1099-K (Payment Card and Third-Party Network Transactions form), that you must submit to the IRS each tax year.
What types of documents and forms for business are used?
Businesses of all sizes rely on business forms and documents for legal purposes.
General documents include:
- Formation documents
- Various types of business licenses
- Employee or contractor agreements
- Compliance and regulatory documents
- Contracts
- Financial documents
3 business formation documents
- Articles of Incorporation. This document includes the company name, purpose, stock types, and amounts, the registered agent's address, and the person incorporating the company.
- Articles of Organization. Used by LLCs, this document includes key information such as the LLC’s name, purpose, management structure, registered agent, and member information.
- Operating Agreement. Used by LLCs and partnerships, this document outlines ownership structure, profit-sharing agreements, management responsibilities, dispute resolution processes, and voting rights.
Standard business license types
- General business license. This license registers you to conduct business within the local jurisdiction.
- DBA license. The doing-business-as license lets you run a business under a different name than what’s listed on your business license.
- Sales tax license. This license allows your business to collect sales tax from clients and customers.
- Safety permits. Permits ensure your business follows appropriate safety regulations.
- Sign permit. If you want to advertise your business with a sign, you need this permit.
- Zoning license. You may need a zoning license to ensure your operation is allowed at your location.
Common types of employment contracts
- Full time. Offered to permanent employees who work 35 hours or more a week and includes a benefits package.
- Part time. Offered to employees who work 35 hours or less a week and generally does not include the same benefits package provided to full-time employees.
- Freelance. Offered to employees to complete a specific project and hours may vary.
3 common types of compliance and regulatory documents
- Compliance Manual. Details regulations that must be abided by and how to follow them.
- Operating Procedures Manual. Documents the procedures and regulations for company operations.
- Code of Conduct. Describes rules as to how employees should interact with internal and external persons.
Typical contracts for business
- NDA. Nondisclosure agreements help companies protect trade secrets and other confidential information.
- Sales-related agreement. Businesses may sign this contract with a vendor or seller to buy or sell services or products.
Financial documents your business may need
- Balance sheet. Lists liabilities, assets, and equity of your company during a specific period.
- P&L. A profit and loss statement, also called an income statement, outlines your business expenses and revenues during a specific period.
- Cash Flow Statement. Allows you to view your company’s resources and cash uses over a specific period.
Create templates for reused business forms and documents.
The forms don’t stop flowing once you sort out your business structure and the applicable taxes. But the good news is you can turn most of the following forms into editable templates to use over and over, including:
- Business proposals — outline details that stakeholders need to know about a project, including objectives, budget, and goals
- Invoices — notify customers that payment is due
- Employment contracts — extend employment to an applicant and explain the terms of hire, including required tasks and expectations
- Product orders (if in e-commerce) — place an order with a vendor specifying the product, description, price, and quantity
- Customer registration forms — invite customers to engage with your business and register for a specific product, service, or event
Simplify workflow and forms for business with the right tools.
Having the right tools for your business ensures you’re headed in the right direction. Tools like Adobe Acrobat can help you manage all the business forms and documents you need to get started. For any forms that need to be signed, you can insert digital signatures into PDFs or Word documents to help keep the files moving. Learn how to simplify business processes with e-signatures.
Take a moment to discover everything that’s possible with Acrobat for business today