How Much Does it Cost to Register a Business Name in North Carolina?

You must register your business name with the state of North Carolina if you’re opening a new enterprise there. Filing a “Doing Business As” (DBA) or fictitious name registration is what this procedure is known as. Depending on the county in which your firm is located, there are different fees associated with registering a business name in North Carolina.

The cost to file a DBA is typically around $26 in most areas. Some counties do, however, charge extra. For instance, the county of Mecklenburg, which encompasses Charlotte, charges $66 for a DBA registration. It’s crucial to confirm the actual cost with the Register of Deeds office in your county.

There are several drawbacks to take into account, even though registering a DBA can be an easy and economical way to conduct business under a different name. The fact that a DBA provides no legal protection for your company name is one of the key drawbacks. In other words, someone else may continue operate under the same name as your DBA, which could cause misunderstandings among clients and later legal concerns.

The procedure is not too difficult if you wish to add a DBA to your Colorado LLC. You must submit a form to the Colorado Secretary of State’s office along with a $20 filing fee. Following the approval of your DBA, you must revise the operating agreement for your LLC and inform any pertinent parties, such as banks or vendors, of the name change.

It’s crucial to understand that registering a DBA does not alter your company’s tax position. You must still report your business income and expenses on your personal tax return if you are a sole proprietor or partnership doing business under a DBA. You must still file a separate tax return for your company organization even if it is an LLC or corporation with a DBA.

So, is getting a DBA worthwhile? Depending on the demands and objectives of your particular organization. A DBA can be an excellent choice if you wish to conduct business under a different name without creating a distinct legal corporation. However, creating an LLC or corporation can be a preferable option if you’re worried about safeguarding your company name or have future expansion plans. Before choosing a course of action, it’s crucial to consider the advantages and disadvantages and speak with an attorney.