One of the most important steps in rebranding, growing, or simply upgrading your company’s image is changing the name of your enterprise. There are a few things Utah business owners should be aware of before changing the name of their company. In this post, we’ll explain how to change your company’s name in Utah and offer solutions to some associated queries. What is a “Single-Proprietorship”?
Let’s first discuss what a sole proprietorship is before moving on with changing the name of your company. A business structure known as a sole proprietorship is one in which just one person owns and runs the company. This implies that all facets of the business, including all gains and losses, are completely the owner’s responsibility. A sole proprietorship’s name can be changed without any difficulty because the owner has complete control over it.
You must submit a Name alter Amendment form to the Utah Division of Corporations and Commercial Code in order to alter the name of your company there. You can submit this by mail or online through the state’s website. A Name Change Amendment must be submitted for a charge of $15. Your modified business name will appear on a new Certificate of Existence that you will get once your amendment has been processed and approved. Connecting an LLC and a DBA
The Utah Division of Corporations and Commercial Code will accept DBA (Doing Business As) forms from LLC owners who wish to conduct business under a different name. By doing this, you can continue to function as an LLC while using a new name. You must fill out a Business Name Registration form and submit it together with a $22 filing fee in order to file a DBA. You can start doing business under the new name once your DBA has been granted. Utah: Dissolving a Sole Proprietorship
There are a few procedures you must follow in Utah if you want to dissolve your single proprietorship. Any business licenses or licences you hold should be canceled first. The next step is to submit your final tax return and make any required payments. Last but not least, you need to close all business bank accounts and business credit cards. To completely close your firm, you might need to take further measures, depending on your industry.
In conclusion, as long as you follow the right rules and regulations, changing the name of your company in Utah can be a straightforward process. There are methods for altering your company name, whether you’re a solo proprietor or an LLC. It’s always best to seek advice from a legal or accounting expert if you’re unclear of the procedure or have any queries to make sure you’re making the greatest choices for your company.