It is possible that one day you will find the business name you initially chose for your company doesn’t reflect your brand as accurately as you once thought or legal concerns may make it better to take The process for changing the name of an entity varies depending on its type. When changing the name of a corporation, sole proprietorship, partnership, or LLC, the process can seem confusing, so let’s go over the options available to each. Our step-by-step instructions will help you prepare for any type of business entity, whether it is a sole proprietorship, a partnership, an LLC, or
Changes to your business name may have legal implications, so make sure you consult a licensed business attorney before embarking on any changes.
Sole proprietorships and general partnerships
It means you have not set up an official business structure with the state when you operate through either of these entities. As a sole proprietor or partnership, you are part of the same entity as the owner(s) of the business. The business name must include the owner’s first and last names. The only exception is that sole proprietors and general partnerships can market themselves under a name that’s more appealing to potential customers. If applying for a fictitious business name (also known as “Doing Business As”), they can use this as part of their marketing strategy. You can change the DBA of your business, whether it is a sole proprietorship or a partnership, by following the steps listed below
The DBA will be canceled and a new one will be filed. In order to do this, you need to contact the government authority that approves and registers DBAs, or you may wish to consider an online company that handles document filing You may need to contact your bank to find out if the name of the existing business bank account can be changed to the new DBA, or a new bank account will need to be opened for it. Make sure that all business licenses and permits must be updated or obtained for the new DBA by checking with county, city, and local government authorities. You can find out from the IRS if a new DBA requires applying for a new employer identification number Informing the IRS of the change in business name. According to the IRS website, here is a translation
Those who own their businesses as sole “Write a letter to us at the address where you filed your return, informing the Internal Revenue Service (IRS) of the change of name. You should note “The notification must be signed by the business owner or a representative authorized by the business owner.”
Invest in partnerships You should check the appropriate box on the Form 1065 for name changes if you are filing for the current tax year The page 1, line G, box 3 is a detailed report. In the event you have already filed your return for the current year, please write to us at the address where you filed your return to update your information. “Signing the notification must also be done by a partner of the business.”
Limited liability companies and corporations
There are two ways to change the name of a company registered as either an LLC or a corporation. As of now, one method involves abandoning the original product name, while the other remains the same as long as a new one is developed for marketing purposes (such as
The following information about Changing Your Business Name was published on Sep 13, 2019, 1102am EDT. Getting Your Business Name Right AllBusiness Nellie AkalpContributor AllBusinessContributor Group Small Business Strategy As your company grows you may decide that the name you chose for it no longer accurately represents your brand, or you might decide it would be better to change it. The process for changing the name of an entity varies depending on its type. Changing the name of your company can be confusing, so let’s break down the choices you have whenever changing your company name as a sole proprietor, partnership, LLC, or corporation. The letters of the alphabet With our step-by-step explanations, no matter if you operate a sole proprietorship, partnership, LLC or corporation, you will also learn
The process of renaming your business may have legal repercussions, so it is best to consult with a licensed attorney before jumping in. The operation of a sole proprietorship or general partnership means that your business is not registered with the state as an official business structure. The owner(s) of a sole proprietorship or partnership are the same entity as the business the business name needs to include both the owner’s first and last name. In any case, that’s not to say sole proprietorships and general partnerships can’t market themselves under a name that’s more interesting and memorable. They can apply for a fictitious business name, also known as “Doing Business As” Changing the DBA of your business, whether you are a sole proprietorship or partnership, can be accomplished in a number of ways, including It’s time to apply for a new DBA and cancel your current In this case, you would need to contact the government office that approves and registers DBAs otherwise, you might consider using an online legal document filing service to handle these You will need to speak with your bank to find out whether the name of your existing business bank account can be changed to the new DBA, or if you will be required to open a new DBA account. Obtaining state, county, and local permits for the new DBA and checking with the authorities to find out if the licenses and permits need to be updated. The IRS should be able to tell you whether getting a new DBA requires you to have a new Employer Identification Number (EIN) as well. The new DBA must be notified to the IRS. Here are some links from the IRS website MORE FROMFORBES ADVISOR Best Registered Agent Services Of 2021 by Jane HaskinsContributor Best LLC Services Of 2021 by Chauncey If the name of your business has changed, you should notify the Internal Revenue Service (IRS) at the address where the return was filed. You should note Signing the notification by either the business owner or the authorized representative is necessary. “Place the appropriate checkmark in the appropriate name change box on the Form 1065 if you are filing for the current year A box 3 is on page 1, line G. In the event you have already filed your return for the current year, please let us know of the name change by writing to us at the address you originally used to file your return. An extra requirement is that a business partner sign the notice.” Related Articles From AllBusiness.com Start A Business 35-Step Guide for Entrepreneurs 25 Frequently Asked Questions on Starting a Business 50 Questions Angel Investors Will Ask Entrepreneurs 17 Key lessons for entrepreneurs Starting a business Limited liability companies and corporations Change the name of your business While one method involves abandoning the original business name for a new one that is meant for marketing purposes (such as for a new product line), the other method keeps the original business name and creates a new one.
Changing (and using) a business name is no game
you choose to file Articles of Amendment to change your business name or create a DBA, it is crucial to ensure that your desired name has not already been registered by another company. It is possible to detect any potential conflicts by using the online database of the United States Patent and Trademark Office. In addition, state databases can also be used to conduct a more thorough search If you are interested in trademark filing, you can consult a trademark attorney or use an online legal filing service.