In Florida, you must register your business with the Florida Division of Corporations if you operate it under a fictitious name, also referred to as a DBA (Doing Business As). You could be unsure about whether to publish your DBA in a newspaper or another source after registering it. The legal requirement to publicize your fictional name in a newspaper in the county where your company is located is yes, according to Florida law.
Publication is necessary to let people know you’re operating under a different name than your legal one. This enables customers to confirm the firm’s and its owners’ identities. Within 30 days after registering the fictitious name, the publication must be made once weekly for four straight weeks.
You might be wondering if you still need to advertise your fake name if your firm has become dormant, meaning it is no longer operating but has not yet been formally dissolved. Yes, even if your firm is dormant, you are still required to disclose your DBA. If you don’t, there can be fines or penalties. Your business is no longer recognized as a legal entity if it has been dissolved. You are no longer compelled to publish your fictitious name in this situation, but you are also not allowed to use it to carry on business. The company’s dissolution does not relieve you of your need to pay any existing bills, however, whether you owe money or have other debts. Legal action is still an option for creditors to recover money they are due.
You may close your business even if you owe money or have unpaid bills, but you’ll still be liable for any remaining balances. When shutting a business, it is crucial to work with a skilled attorney or financial advisor to make sure you are adhering to all legal laws and duties.
In Florida, you must register your fictitious business name with the state and advertise it in a newspaper in the county where your business is located if you run it under that name. You have to abide by this regulation regardless of whether your firm is operational or not. You are no longer needed to disclose your DBA if your company has been dissolved, but you are also not allowed to carry on business under that name. Last but not least, if you owe money or have unpaid debts and want to shut down your firm, you must still pay your debts.
Regarding the second query, a company’s dissolution may have various effects on contracts depending on the specifics. The assets and obligations of the business are typically liquidated, and any money left over is given to shareholders and creditors. Any contracts that are still in force may be canceled or transferred to another business. To decide on the best course of action, it is crucial to carefully analyze the conditions of each contract and seek legal counsel.