Any business owner who wants to operate under a name other than their own legal name must first register a trade name in Kansas. A trade name is a name that is different from the legal name of the business owner or corporation, commonly referred to as a “doing business as” (DBA) name. This article will walk you through the process of registering a trade name in Kansas.
Selecting an available and unoccupied name is the first stage in registering a trade name. The name must be distinctive and shouldn’t be too similar to any other Kansas company names already in use. By performing a name search on the Kansas Secretary of State website, business owners can determine whether their selected name is available.
Step 2: Register your business name
The next step is to submit a trade name registration form to the Kansas Secretary of State once a name has been decided upon. The form can be submitted online or via mail by business owners. The name and contact details of the business owner, the trade name, and a succinct description of the company are all required on the form.
The third step is to publish the trade name. Business owners are required to post a notice of their trade name in a Kansas newspaper for two consecutive weeks after the trade name registration is granted. The notification is required to specify that the company is operating under a trade name and to contain the name and address of the business owner.
Step 4: Obtain All Necessary Licenses and Permits Business owners must obtain all necessary licenses and permits for their operations once the trade name registration is complete. The website of the Kansas Secretary of State gives details on the licenses and permissions needed for various business categories. Which Taxes Do Businesses in Kansas Pay?
Kansas imposes a number of taxes on businesses, including an income tax, a sales tax, and a property tax. In Kansas, corporations pay a 7% income tax rate and a 6.5% sales tax. To discover their precise tax obligations, business owners should speak with a tax expert. How Can I Change the Ownership of a Kansas LLC?
In Kansas, an LLC’s current owners must transfer their ownership stake to the new owners in order to shift ownership. The operating agreement of the LLC must be amended in order to accomplish this, and a certificate of amendment must be submitted to the Kansas Secretary of State.
Kansas limited liability refers to the legal defense offered to their owners by LLCs and other limited liability corporations. The debts and responsibilities of an LLC are not personally accountable for its owners in Kansas. This means that in the event of litigation or bankruptcy, their private assets are safeguarded. How Can I Pay Myself Out of My LLC?
LLC owners have a variety of payment options available to them, including salaries, distributions, and draws. The operating agreement of the LLC and the owner’s particular financial status will determine the payment method. To choose the most tax-effective payment option, business owners should speak with a tax expert.
Because it is concentrated on the procedure for establishing a trade name in Kansas, the article “How to Register a Trade Name in Kansas: A Step-by-Step Guide” does not address the disadvantage of an LLC. However, compared to other business arrangements, such as a sole proprietorship or partnership, an LLC may be more expensive to establish and maintain. LLC owners may also be subject to self-employment taxes on all of their income, not just their pay. A lawyer or accountant should be consulted to help you choose the optimal business structure for your unique requirements and objectives.