Q: Hello I am a Young Entrepreneur and I was wondering what Licences and permits are needed for a gumball machine business.
I am from Pryor, Oklahoma and do not plan on hiring employees for my business.
My business plan is find a business that could use a machine, set up some terms, get them to sign a contract, and pay them a cut of the profit.
So another question I have is would I need to give the said Business a financial report of some kind, and how do you go about making a contract legally binding? I would appreciate any responses. :)
Congratulations: The Oklahoma Tax Commission has a guide. See
Keep in mind federal taxes as well. If you have any concerns about personal liability you may consider forming a "Limited Liability Company" or corporation.
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