One of the first steps you should do if you’re beginning a business in Georgia is to request an Employer Identification Number (EIN) from the Internal Revenue Service (IRS). Your company will be given a unique nine-digit number called an EIN, which is used for tax purposes. How to obtain an EIN number in Georgia is as follows:
Determine Your Eligibility in Step 1: If you have a current Taxpayer ID Number (TIN) or Social Security Number (SSN), you are eligible to apply for an EIN. Your SSN can serve as both your TIN and SSN if you are a lone proprietor.
2. Apply Online: Submitting an online application via the IRS website is the quickest way to obtain an EIN number in Georgia. It costs nothing and simply needs a few minutes to finish. You will get your EIN right away after submitting your application.
3. Submit an application by mail or fax: To submit an application by mail or fax, download Form SS-4 from the IRS website and mail it to the address or fax number specified there. Mail delivery of your EIN normally takes four to six weeks.
4. Apply over the Phone: To apply over the phone for an EIN, dial the IRS Business and Specialty Tax Line at 1-800-829-4933. The business is open from 7 a.m. to 7 p.m. local time, Monday through Friday.
You must file a trade name registration with the Georgia Secretary of State if you intend to conduct business under a name other than your legal name. How to register a trade name in Georgia is as follows: 1. Pick a Name: Your trade name must be distinct from other names that have been registered in Georgia and must not be false or misleading. On the Georgia Secretary of State website, you can look up names that are currently available.
3. Renew Your Registration: To keep your trade name registration current, you must renew it every five years.
As long as each name is registered with the Georgia Secretary of State, an LLC is permitted to use several DBAs (Doing Business As). But bear in mind that there is a distinct price associated with each DBA registration.
You can search the Corporations Division’s online database at the Georgia Secretary of State to see if a business name is available in Georgia. You can use the database to look up business names and see whether they are already registered or can be registered.
The drawbacks of a DBA
A DBA does have some drawbacks, despite the fact that it may be a great tool for branding and marketing your company. The fact that a DBA offers no legal protection for your company name is one of the key disadvantages. You might not have any legal remedy if someone else starts using your DBA or a name that is similar to it. Furthermore, a DBA offers no liability protection for your company. Your personal assets could be in jeopardy if you are sued. For these reasons, before making a choice, it’s crucial to balance the benefits and drawbacks of utilizing a DBA.
A business that operates under a name other than the owner’s name or the registered name of the entity is referred to as a DBA (Doing Business As) in legalese. It permits a company to run under a trade name without having to establish a different legal body. However, a DBA does not shield the business owner from liabilities, and the company is still regarded as a sole proprietorship or partnership for tax and legal reasons.