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Meet government requirements when hiring employees (New Business Checklist)

If you plan on hiring employees, you will enter into a whole new world of federal, state, and local requirements.

If your business doesn't already have a federal tax identification number, you will probably have to apply for an Employer Identification Number (EIN) with the IRS. You can apply for an EIN by phone, online, or by mail. (The online application is not yet available for all types of businesses.) Applying by phone or online is recommended as the IRS has a policy of providing the number immediately.

In most states, businesses above a certain size are required to carry workers' compensation insurance in case of on-the-job accidents. Contact your state's board of workers' compensation for information and assistance. In obtaining workers' compensation insurance, shop around and compare quotes from several brokers. Also, be sure the occupational codes used to characterize your employees based on their type of work are correct. Insurance rates vary depending on what code is chosen.

Visit the Go onlineOccupational Safety & Health Administration for information about federal safety requirements. Also check with your state government for additional requirements.

Visit the Go onlineDepartment of Labor's Employment Standards Administration Wage and Hour Division to find out about federal minimum wage, overtime, and child labor laws.

For detailed information about employer requirements, visit the Go onlineReference & Tools area of Intuit's Payroll Services.

It is highly recommended that you consult with a lawyer and a tax professional about your business' individual employer requirements.

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