There are various ways to achieve so depending on your circumstance if you want to get rid of a DBA or “doing business as” name. Here are some scenarios and potential remedies: 1. You want to revoke your DBA since your company is closing.
You should cancel your DBA as part of the process if your company is closing. By submitting a “certificate of cancellation” or “certificate of withdrawal” to the state or county where your DBA was registered, you can accomplish this. Your DBA will be formally terminated as a result, keeping others from utilizing it. You might also need to let your clients, suppliers, and creditors know that your company is closing down and give them your new phone number or address for correspondence. 2. You no longer need your DBA and wish to cancel it.
You can revoke a DBA if you no longer need or use it by submitting a “certificate of abandonment” or “certificate of withdrawal” to the appropriate authority. This will stop others from utilizing your DBA and erase it from the public records. Additionally, you should change your company name or status in your business records and notify your clients, suppliers, and creditors. 3. You want to alter the name of your registered business.
You must adhere to your state’s or country’s legal and administrative requirements if you wish to change the name of your registered business. Generally speaking, you must submit a “name change” or “articles of amendment” to the appropriate bureau, like the Secretary of State or the Companies House. You might also need to change the name on any business licenses, permits, contracts, or bank accounts. Remember that changing your company name may have an impact on your brand identification, marketing, and reputation. As a result, you should prepare carefully and inform your stakeholders of the change. 4. You wish to rename your LLC while maintaining the same EIN number.
You can alter the name of your LLC while keeping the same EIN number by filing “name change” or “articles of amendment” forms with the IRS. You should also change the name on your bank accounts, business licenses, permits, contracts, and state filings. A lawyer or accountant should be consulted before making any changes to your LLC name because it may also affect your liability protection, tax status, and legal obligations. 5. You should have several DBAs under one EIN.
You can register additional DBAs or trade names under your current EIN or tax ID number if you want to use them for your company. However, the state or county where you wish to utilize the DBA must get a “certificate of assumed name” or “fictitious name registration” from you. This would enable you to maintain a consistent legal and financial identity while using many identities for various reasons or markets. To prevent misunderstanding or mistakes, you should also keep track of your costs, earnings, and taxes separately for each DBA. You have two EINs, which is number six.
If your company has two EINs, it could be because you applied for a new EIN rather of using your current one, or it could be the result of a merger, acquisition, or reorganization. In any instance, you should get in touch with the IRS, explain the circumstance, and request that one of the EINs be merged or cancelled. Additionally, you should update your company’s paperwork and let your bank, suppliers, and customers know your true EIN number. Failure to do so could lead to fines, audits, or legal problems.
Changing your business name or getting rid of a DBA needs careful planning, legal compliance, and communication. To be sure you follow the proper methods and steer clear of any unfavorable outcomes, you should get advice from a lawyer, accountant, or company expert. By doing this, you may confidently and clearly concentrate on expanding your company and attaining your objectives.
It matters what you call your LLC, yes. The name of your LLC is crucial since it serves as a representation of your company and helps potential consumers and clients remember you. The name you select must also adhere to all applicable state laws and regulations and cannot be too similar to another business name registered in your state. In order to prevent any potential legal complications in the future, it’s crucial to select a name that has not previously been registered as a trademark by another company.