As a lone proprietor, you might want to grow your company and investigate new markets. Operating under several trading identities is one way to do this. But the limit for a solitary trader is how many trading names.
The number of trading names a lone trader may have is unbounded, is the response. It is crucial to remember that each trading name needs to be registered with the appropriate authorities. For instance, a lone proprietor in the UK is permitted to register with Companies House under various business names. Each name must be distinct and unregistered by another company.
In the US, a Doing Business As (DBA) registration is used to register a trading name for a solo proprietor. As a result, the sole proprietor may do business using a name other than their legal name. While the registration procedure varies from state to state, it typically entails completing a form and paying a fee.
Regarding the linked query of how LLCs are taxed in Arizona, it is crucial to be aware that LLCs are not subject to state taxation in this state. Instead, they are regarded as pass-through entities, which means that the owners receive a share of the company’s revenues and losses and must record them on their personal tax returns.
In Arizona, the procedure for forming an LLC can usually be finished in a few working days. The Arizona Corporation Commission must receive and accept the Articles of Organization, along with the required filing fee. Once accepted, the LLC is regarded as having been created.
The procedure to register a DBA in Arizona can often be finished in a few weeks. In order to do this, a Trade Name Application must be submitted to the Arizona Secretary of State, and a notice of the registration must be printed in a local newspaper.
In order to change the name of an LLC in Arizona, a Certificate of Amendment must be submitted to the Arizona Corporation Commission. The new DBA name and any other pertinent information must be on this form. The LLC may start using the new name after it has been approved.
In conclusion, a solo trader is permitted to use an unlimited number of trading names, but each name must be registered with the appropriate authorities. Arizona does not impose state taxes on LLCs, which can be formed in a matter of business days. Arizona DBA registration typically takes a few weeks to complete, and adding a DBA to an LLC necessitates filing a Certificate of Amendment.
The Arizona Corporation Commission charges $10 to register a business name in Arizona. However, it will cost an extra $10 if you wish to reserve a name before registering.