A DBA must be filed with the county where the business is located if a business owner wishes to conduct business using a name other than their legal name. Since sole proprietorships and partnerships are not regarded as distinct legal entities from their owners, this is especially significant for them. These kinds of businesses can operate under a different name by submitting a DBA without having to establish a different legal entity, such an LLC or corporation.
On the other side, a company is exempt from filing a DBA in Iowa if it is registered as an LLC or corporation. Any assumed names may be used in the registration process even when the legal name of the company is already registered with the state.
Now let’s talk about how to create an LLC; it’s a rather simple procedure. By submitting Articles of Organization to the Secretary of State, company owners in Iowa are able to create an LLC. The name of the LLC, the registered agent’s address, and the members’ or managers’ names and addresses must all be listed in the Articles of Organization.
As soon as the LLC is established, it’s crucial to comply with annual reporting obligations. LLCs in Iowa are obliged to submit a yearly report to the Secretary of State. The LLC risked being dissolved or losing its good standing with the state if the yearly report wasn’t submitted.
Last but not least, it’s critical to record all decisions and activities that were taken during an LLC meeting while preparing the minutes. The time and date of the meeting, the names of those present, and a thorough synopsis of the topics covered should all be included in the minutes. The votes that were cast, together with the results, should be noted.
Conclusion: Although a DBA is not required for firms in Iowa, it might be useful or necessary in some circumstances. It’s crucial to adhere to the correct procedures for LLC establishment and to submit yearly reports on time. And for maintaining effective company governance, taking accurate and thorough minutes of LLC meetings is crucial.
All business entities in Iowa, including DBAs, are required to file a biannual statement. The business’s name, address, registered agent, and the names and addresses of its executives and directors are all included in this declaration, which is submitted every two years. To preserve compliance with the state’s business laws and regulations, it is crucial to submit this statement on time.