You must register a trade name, sometimes referred to as a doing business as (DBA) name, in order to conduct business in Maryland using a name other than your own. This will enable you to operate under that name and make it simpler for clients and customers to recognize your company. But is registering a trade name in Maryland really necessary? What you should know is as follows.
Depending on the county where your firm is located, there are different fees associated with registering a trade name in Maryland. It costs between $25 and $50 in the majority of counties. However, the price may be higher in various places. For instance, in Baltimore City, the fee for the initial filing is $125, and each renewal is $100.
You must submit a paperwork to the Maryland Department of Assessments and Taxation in order to register a trade name. Basic information about your company will be requested on the form, such as the name you intend to use, your contact details, and the kind of business you are running. Additionally, you’ll have to pay the registration charge. You will be able to use your trade name to conduct business once your registration has been authorized.
Depending on the county where your company is located, registering a trade name in Maryland takes a different amount of time. Processing your registration typically takes 7 to 10 business days. However, in other places it might take more time. You might be able to pay an extra cost for expedited processing if you require your registration to be handled right away.
A trade name is a name that a company uses to do business and which is distinct from the owner’s given name. Contrarily, a business name is the official name of the business entity that has been registered with the state. If you register a limited liability corporation (LLC), for instance, the LLC’s name will serve as the business name. If you want to conduct business using a different name, you can also register a trade name for your LLC.
In conclusion, you must register a trade name in Maryland if you wish to conduct business under a name other than your given name. Depending on the county in which your company is based, the cost to register a trade name varies, and the processing period might take up to 10 working days. Keep in mind that a business name, which is the official name of the business entity, differs from a trade name.
Yes, you must register your trade name, also known as your DBA (doing business as), if you conduct business in Maryland under a name other than your legal name. This is required to make sure that the name of your company is recognized legally in the state of Maryland.
Yes, in order to keep their good standing status in Maryland, LLCs must submit an Annual Report and pay a charge to the State Department of Assessments and Taxation each year. Penalties, interest, and finally the termination of the LLC’s status may occur from failing to submit the Annual Report and pay the required fee.