It’s crucial to comprehend the laws and guidelines governing business creation and upkeep when it comes to operating a firm in Arkansas. One topic that frequently comes up is whether an Arkansas certificate of good standing is required for a business. In a nutshell, the answer is “yes.”
A certificate of good standing, often called a certificate of existence or a certificate of authorisation, is a record that attests to the fact that your company is registered and in accordance with all laws in the state of Arkansas. It is frequently necessary to have this certificate in order to complete a number of business-related procedures, including securing funding, signing contracts, and renewing business permits.
Your company must be in conformity with all state laws, including paying all required taxes and fees, in order to get an Arkansas certificate of good standing. A request form and a fee must be submitted in order to get a certificate of good standing from the Arkansas Secretary of State’s office.
It’s critical to confirm that your company is correctly registered and licensed in the state of Arkansas in addition to acquiring a certificate of good standing. If you intend to conduct business using a name other than your legal business name, you must also file for a DBA, or “doing business as,” license.
A DBA certificate is required if you intend to conduct business in Alabama under a name other than your registered business name. The Alabama Secretary of State’s office must receive a trade name registration as part of this procedure.
To confirm that your intended trade name is not already in use, perform a search before applying for an Alabama DBA certificate. Then, finish a trade name registration application and send it, along with the filing fee, to the Alabama Secretary of State’s office.
You can file a DBA under your LLC in Alabama if you have an LLC and wish to operate under a different name. To achieve this, take the same actions as getting a DBA certificate, but remember to provide information about your LLC on the registration form.
You can alter an LLC that already exists in Alabama and add a DBA by submitting an amendment to the Alabama Secretary of State’s office. This procedure entails amending the articles of organization of your LLC to reflect your new DBA name.
Negative aspects of an LLC Although LLCs provide many advantages for small business owners, there may also be some drawbacks to take into account. If the LLC is treated as a corporation for tax reasons, there may be a chance of double taxation. In addition, LLCs could be subject to stricter rules than partnerships or sole proprietorships. Finally, compared to other business structures, LLCs may be more expensive to establish and maintain.