The Ohio Secretary of State provides online registration services, with processing times ranging from 24 hours to 10 days. The amount of applications, the time of year, and the intricacy of the given documentation can all affect how long it takes to process an application. The processing time may be extended if the provided documents contain any mistakes or inaccuracies.
Additionally, it may take up to 10 business days for your registration documents to be processed if you decide to mail them in. This choice is not advised, though, as it could be slower and less dependable than the online registration procedure.
The Ohio Secretary of State will issue you a certificate of organization once your LLC has been approved. This certificate serves as evidence that your LLC has been duly established and accepted by the state of Ohio. With the help of this certificate, you can open a business bank account, apply for financing, and begin operating your company.
You can indeed register a business name even if you never use it. You are not need to carry out any business operations or activities in order to register a business name. It’s crucial to keep in mind, though, that registering a business name does not provide it any legal protection. Consider registering your company name as a trademark if you want to keep it safe.
Doing business as (DBA) is a made-up name that a business owner uses to carry out commercial operations under a name other than their legal name. A DBA does not establish a different legal entity or offer the business owner any kind of legal protection. An LLC (Limited Liability Company), on the other hand, is a distinct legal entity that offers the business owners legal protection. A business owner can avoid personal liability by separating their personal assets from their company assets through the use of an LLC.
In Ohio, establishing a sole proprietorship is a simple procedure. A sole proprietorship is a single person-owned, unincorporated company. You simply need to register your business name with the Ohio Secretary of State and get any necessary licenses or permits to establish a sole proprietorship in Ohio. It is crucial to remember that a sole proprietorship does not offer legal protection to the business owner, who is solely responsible for any debts or legal actions brought against the company.
Do DBAs require their own bank accounts? A separate bank account is not necessary for a DBA. Any business operations carried out under a DBA are seen as being a part of the owner’s personal finances because a DBA is not a separate legal company. To manage your business money and make your accounting process simpler, it is advised to open a separate bank account for your business’s operations.