Select a business name in the first step. Choosing an available business name is the first step in obtaining a DBA in Illinois. The name cannot already be registered in Illinois for another business. By using the company name database maintained by the Illinois Secretary of State, you may determine whether the name you have in mind is available.
Step 2: Determine if a local business license is required Before you can get a DBA, you might need to receive a local business license, depending on where your firm is located and what kind of business it is. To find out what licenses and permits you require to lawfully operate your business, check with your local government.
Step 3: Submit a DBA to the Secretary of State of Illinois After deciding on a company name and obtaining all appropriate licenses and permissions, you can submit a DBA to the Secretary of State of Illinois. Your DBA can be submitted by mail or online. In Illinois, a DBA must be filed for a price of $25.
Step 4: Advertise in a Newspaper
After submitting your DBA, you are required to advertise the filing in a newspaper in the county where your company is located. For three weeks in a row, the notice must be published once each week. The newspaper will give you an affidavit of publication upon the final publication. The affidavit must be submitted to the Illinois Secretary of State within 50 days after the DBA’s first filing.
The filing fee for a DBA in Illinois is $25, as was already mentioned. When you file your DBA, you must pay this charge to the Illinois Secretary of State. The publication of the notice of filing in a newspaper could incur extra expenditures.
A DBA isn’t a legitimate business. It’s merely a name you employ for commercial purposes. On the other hand, an LLC (limited liability company) is a type of legal entity that shields its owners from liabilities. A DBA may also be used by an LLC. If you want to utilize a different name while operating as an LLC in Illinois, you must submit a separate DBA.
To let the public know that you are conducting business under a name other than your legal name or the name of your corporate entity, you must file a DBA. In addition, most states, including Illinois, have made it a legal necessity. A DBA allows you to conduct business under your company name and to create a bank account, take payments, and sign contracts. It also helps to reduce confusion and fraud.
You must submit a DBA to the Illinois Secretary of State in order to register your company name there. The procedures for submitting a DBA are listed above. Additionally, you must file a registration form with the Illinois Secretary of State if you’re establishing a new business organization (like an LLC). Depending on the type of business entity you’re founding, the registration procedure differs.
Depending on your unique situation and business objectives, you should decide if an LLC or sole proprietorship is better for you. A sole proprietorship is simpler and less expensive to set up, but it does not provide protection from personal liability. An LLC, on the other hand, offers the owners limited liability protection, but it necessitates more paperwork and may cost more to set up. Before deciding which entity type to select for your business, it is advised that you speak with an attorney or tax expert.