How to register and apply as an individual business and go to Hometax
• What to do before applying for individual business registration
• Application for corporate business registration
• National Tax Support for Individual Entrepreneurs – Restriction of Special Taxation Act
• How to apply for individual business registration
• 1. Direct visit to the tax office
• Tax Office Individual Business Registration Procedure
• 2. Register with the National Tax Service Hometax (online)
• 1. Search “National Tax Service Home Tax”
• 2. Hometax login
• 3. Apply/Submit – Click Business Registration Application (Individual)
• 4. Enter personal information for business registration application (individual)
• 5. Industry code and registration
• 6. Enter business information and select business type
• 7. Optional
• 8. Issuance after review
• Points to note when applying for an individual business registration certificate
• Go to the National Tax Service Home Tax
• Articles that are good to look at together
Let’s look at how to apply for individual business registration and the shortcut to Hometax. In order to start a business, you must register as a business with the IRS. No matter how small your business is, you need to obtain a business registration certificate. In addition, if you register as a business, it is advantageous to receive tax-related benefits and reductions. Let’s take a closer look at the individual business registration application.
How to apply for individual business registration
What to do before applying for individual business registration
You should think of a business name in advance.
Address is required.
You need to determine your business purpose or industry.
Application for corporate business registration
The application for corporate business registration is the same as the individual business registration above and 1 to 3 are common, and the following 3 items are added when registering a corporate business.
capital stock
shareholder structure
Executive composition
National Tax Support for Individual Entrepreneurs – Restriction of Special Taxation Act
The Restriction of Special Taxation Act refers to various tax deductions and exemption systems for small and medium-sized enterprises (SMEs).
Tax reduction for start-ups – 50% reduction in income tax and corporate tax for the first year of income and for 4 years thereafter
– Within the overcrowding control area of the metropolitan area – 50%
– Outside the overcrowding control area of the metropolitan area – 100%
Special tax reduction for SMEs – 5% to 30% reduction in income tax or corporate tax for SMEs depending on region, size, type of business, etc.
How to apply for individual business registration
There are two ways to apply for individual business registration: in person and online. So let’s take a closer look at the in-person and online methods.
The application for registration of a sole proprietorship is free of charge.
1. Direct visit to the tax office
You can apply for individual business registration by visiting the tax office in person. If you find it difficult to use online, it is also a good idea to visit and apply in person. When visiting the tax office, you must bring your identification card to proceed.
Tax Office Individual Business Registration Procedure
Visit with ID
Issue a numbered ticket and fill out the business registration application form provided in the jurisdiction
– Looking at the application, I’m not sure. If so, you can write only what you know and mark the blanks to proceed through consultation.
Proceed through consultation with staff
2. Register with the National Tax Service Home Tax (online)
Individual business registration applications can be easily registered online. It’s not too difficult, so just look at the picture and text below and follow it slowly.
1. Search “National Tax Service Home Tax”
Next, enter “Hometax” in the search bar of search portal sites such as Google and Naver, search, and access Hometax of the National Tax Service.
Go to the National Tax Service Home Tax Business Registration Application
2. Hometax login
To register as an individual entrepreneur, you must first log in. So, you need to log in first and then proceed. If you do not have an ID, you can sign up through membership registration. It’s a bit cumbersome, but I think it’s much faster than going outside.
When ActiveX provided by Hometax comes out, you need to install it. security and
3. Application/Submission – Click Business Registration Application (Individual)
There is an “application/submission” menu at the top center of the main homepage of Hometax. Click and select Business Registration Application (Individual) below.
4. Business registration application (individual) Enter personal information
First of all, you need to enter your personal information. Existing member subscribers will see basic information, and what they need to write down is “Company name”, mobile phone number, e-mail address, and business location address.
You can write the address of the business location as the address of the business you operate. However, if your business address is your home, you can write your home address.
Those who signed a lease agreement for business can write down the address under the lease agreement, and later submit a copy of the lease agreement as proof of fact.
5. Industry code and registration
You must select an industry by clicking “Enter / Edit” in the upper right corner in selecting an industry.
In order to select an industry, it is necessary to distinguish whether it is a main industry or a secondary industry.
To receive an industry code, click “Industry Code” search and select the industry you want to start a business in.
Please check if it is similar to what I chose as an example.
6. Enter business information and select business type
Now you need to enter your business information. Select an opening date from Basic Information. The opening date is the date on which my business officially becomes effective on the date I set, and it does not have to be today’s date. Then, write “number of employees”, “own funds”, “other funds”, etc. if you know them.
There is something to keep in mind when choosing a business type. When selecting a business type, if you are an individual, you should choose “general taxable person” or “simplified taxable person”, and you should carefully select it according to the sales and type of business you will be operating.
General businesses are obliged to report 10% VAT, but simplified taxpayers are exempt from VAT reporting. The thing to be careful of here is that if sales increase in the future, it is highly likely that a simple taxpayer will be hit by a comprehensive income tax bomb.
7. Optional
Optional is literally optional. If applicable, please enter.
8. Issuance after examination
There is a waiting period of about one week after applying for an individual business registration certificate and issuing it. If there is a problem with the submitted documents or if additional documents are requested, the officials in charge will contact you separately.
Notes on applying for an individual business registration certificate
When registering a business by borrowing a business registration certificate in the name of another person, all taxes and fines incurred during the business are imposed on the owner.
You must apply for a business registration certificate within 20 days of starting your business.