A DBA, or “doing business as,” is a moniker that a company employs for its public-facing operations rather than its legal name. It is often referred to as an assumed business name or fictitious business name. Businesses can develop a distinctive and enduring brand identity by using a DBA. It’s crucial to remember that two businesses in the same state and sector cannot share the same DBA name.
It is critical to confirm if a DBA name is available in the US before utilizing it. If a DBA name is already in use, it can be determined through the US Patent and Trademark Office’s database of registered trademarks. To confirm that the DBA name is not already in use, each state also maintains a database of registered firms that may be searched. The distinction between an LLC and a DBA is explained here.
A DBA does not constitute a legal entity and offers the business owner no legal protection. The legal structure known as an LLC, or limited liability company, is used to keep the assets of the firm and the owner of the business separate. In the event of legal action or debt, it offers defense. An LLC must be registered with the state and pay registration fees, unlike a DBA. What Does a Periodic Report Mean in Colorado?
Businesses in Colorado are required to file a periodic report annually to keep their good standing with the state. It contains details on the company’s name, location, registered agent, and operations. The report also attests to the company’s continued existence and operation in the state.
Depending on the kind of business structure used, Colorado’s business registration fees change. For instance, creating a corporation costs $50 plus a further fee based on the amount of shares issued, whereas registering an LLC costs $50. In addition, continuing expenses like annual report fees and business taxes are connected to establishing a business in Colorado.
In conclusion, companies ought to pick a distinctive DBA name that isn’t already in use in their state or sector. Both state business registration databases and trademark searches can be used to determine whether the name is available. It is significant to remember that, in contrast to an LLC, a DBA does not offer legal protection. Periodic reports must be submitted by businesses in Colorado once a year to keep them in good standing with the state. The cost to register a business in Colorado varies based on the type of the business and continuing expenses related to keeping the business operational.