In the US, all corporations and limited liability companies (LLCs) are required to file annual reports. It entails presenting an annual report to the state government outlining the ownership, financial, and other crucial details of the business. But what is the price of annual filing?
Depending on the kind of corporate company, different states have different annual filing fees. It depends on the company’s revenue or staff count in some states, while it is a flat rate in others. The typical price of an annual filing is between $50 and $400. For instance, the charge for LLCs in Delaware is only $300 compared to California’s $800 fee.
Although it is not required, it is advised that an LLC and a business have the same name. It is simpler for clients to find and recognize your firm when you have a consistent name. This helps to increase brand recognition. However, you can register a Doing firm As (DBA) name if you want to run your firm under a different name.
Your LLC’s name does matter. The first thing people will notice about your LLC will be its name, which has a big influence on your brand. A good LLC name must to be distinctive, memorable, and simple to pronounce. Additionally, it need to convey the goals and values of your company. You should perform a thorough search before selecting a name to make sure it is available and complies with state regulations.
The cost to register a DBA varies from county to county in Maryland. The cost often ranges from $25 to $50. The county clerk’s office in the county where the business will operate must receive the fee. You might also be required to pay extra fees to post a notice of your DBA in a nearby newspaper. Should I obtain a DBA in Maryland? You must establish a DBA in Maryland if your company conducts business using a name other than your legal name. Sole proprietorships, partnerships, and LLCs are all affected by this. By registering a DBA, you can prevent others from using your company name and safeguard it. Additionally, it makes it simpler for customers to find your company.
The annual filing requirement is a crucial one for all corporations and LLCs, to sum up. Depending on the kind of corporate company, different states have different annual filing fees. While it is advised, it is not required, for your business and LLC to share the same name. Your LLC’s name is important since it may affect your brand. If you want to conduct your business in Maryland under a name other than your legal name, you must register a DBA, which costs $25 to $50.
A lone owner or partnership may operate their business under a name other than their own by using a DBA (Doing Business As), which is a fictional name. On the other hand, an LLC (Limited Liability Company) is a legitimate company entity that protects its owners from personal liability while enabling pass-through taxation. Simply put, an LLC is a separate legal company and provides its owners with personal liability protection, whereas a DBA is not and does not offer this protection.