The personal liability of a company’s owners is restricted through the use of an LLC, or limited liability company. Because it is simple to set up and manage, small firms frequently use it. The ability to conduct business under a name different than one’s legal name is one of the advantages of an LLC. An example of this is a DBA, or “doing business as.”
A DBA is a made-up name that a company uses in place of its actual name. A trade name, assumed name, or fictitious business name are other names for it. For instance, if the formal name of your LLC is “Smith & Sons LLC,” you are permitted to operate under the names “Smith’s Painting Services” or “Smith’s Landscaping.”
You must register a DBA with your state or local government before using it. Depending on where you live, the procedure could be different, but in general, you’ll need to submit a DBA registration form and pay a charge. A notice of your DBA may also need to be published in a local newspaper.
The process of selecting a logo for your business name may be enjoyable and creative. Your logo ought to embody your brand and be recognizable to your intended market. Take into account the typefaces, graphics, and colors that will effectively convey your message. You may use internet tools like Canva or LogoMaker to create your logo, or you could engage a qualified graphic designer.
The type of business, the number of owners, and the location all affect how much it costs to create an LLC in Texas. In Texas, there is a $300 state filing cost establishing an LLC. Additionally, there can be charges for submitting your DBA, obtaining a company license, and meeting other requirements.
Unless it is dissolved or terminated by the proprietors, an LLC remains in existence in Texas indefinitely. To keep your LLC in good standing, you must submit an annual report to the Texas Secretary of State and pay a fee.
Limited Liability Company is denoted by the initials “LLC” after a company name. With this distinction, it is clear that the corporation and its owners are two distinct legal entities and that neither party is responsible for the other’s debts or legal duties. To let clients and business partners know about your legal protection and organizational structure, it is crucial to add “LLC” in the name of your company.
In conclusion, a DBA can be registered with the state or municipal government to allow an LLC to conduct business under a different name. Building your brand involves selecting a logo for your business name. An LLC exists forever unless it is dissolved or terminated, and the cost to incorporate one in Texas varies depending on a number of circumstances. It’s crucial to include “LLC” in your company name so that people are aware of your legal protection and organizational structure.
Yes, one person can own an LLC; this type of LLC is known as a single-member LLC.
The disadvantage of an LLC is that it can have more complicated taxes than a sole proprietorship or partnership, and that it might need more money and paperwork to set up and keep the LLC in good standing. In several states, LLCs must also have more than one owner or member.