A “doing business as” (DBA) name is another term for the ability of an LLC to conduct business under a different name. Businesses who want to sell themselves under a different name yet keep using their legal name for formal purposes can benefit from this. For instance, if the legal name of your LLC is “John Smith LLC,” you could choose to use the DBA name “Smith & Co.” You must register your DBA with the state where your LLC is registered in order to accomplish this. Can I modify the name of my business after registration?
After registration, you may really modify the name of your business. Depending on the state in which your LLC is registered, the procedure may vary, but in general, you’ll need to file an amendment with the state. This will include the names of your existing and new LLCs as well as any other necessary information. Remember that if you change the name of your LLC, you might also need to amend any contracts, legal paperwork, and bank accounts related to your company.
You cannot alter the name listed on your EIN. Since your EIN is linked to the legal name of your LLC, you’ll need to file for a new EIN whenever your LLC name changes. You can submit this via mail or online through the IRS website. In order to avoid any potential problems with taxes or other legal difficulties, it’s crucial to update your EIN as soon as you can.
You can alter the goals of your LLC, yes. Similar to altering your LLC name, this can necessitate filing an amendment with the state. However, you might want to think about creating a new LLC instead if the goal of your current LLC drastically changes. It might be more advantageous to create a new LLC specifically for the new line of business if, for instance, your existing LLC was established to sell handcrafted crafts but you now want to provide marketing services.
In conclusion, it is possible to change the name of your LLC, but it’s crucial to comprehend the procedure and any prospective repercussions. With a DBA, you can conduct business under a different name, but you’ll need to file an amendment with the state if you want to change your legal name. If you alter the name of your LLC, you must apply for a new EIN since you cannot modify the name listed on it. Finally, you can alter your LLC’s goal, but if it changes dramatically, it might be better to create a new LLC. You can decide whether to change the name of your LLC in an informed manner by being aware of these aspects.