Source: U.S. Census Bureau  

Release: Business Formation Statistics  

Units:  Number, Seasonally Adjusted

Frequency:  Monthly

High-Propensity Business Applications (HBA) that indicate a first wages-paid date on the IRS Form SS-4. The indication of a wages-paid date is associated with a high likelihood of transitioning into a business with payroll.

See the U.S. Census's FAQs for more details.