Anyone who want to conduct business in Ohio under a name other than their own must first register a DBA, often known as a “Doing Business As” name. Depending on the county you are filing in, the cost to register a DBA in Ohio varies. Usually, the price is between $25 and $50. It is crucial to remember that this charge only covers the registration of the DBA; it does not cover any potential additional costs for licenses or permits.
In Ohio, all businesses, including those using a DBA, must have a statutory agent. A person or organization designated to receive court documents and other official correspondence on behalf of the company is known as a statutory agent. Although it is feasible, it is not advised for a business owner to serve as their own statutory agent. The statutory agent must take legal documents on behalf of the company, have a physical address in Ohio, be accessible during regular business hours, and be willing to do so.
An official document called a Certificate of Good Standing attests to the fact that a company is in good standing with the state of Ohio. This indicates that the company has complied with all of its responsibilities, including submitting yearly reports and paying taxes. When asking for a loan or signing a contract with another company, for instance, a Certificate of Good Standing may be necessary. The Ohio Secretary of State’s office can provide a Certificate of Good Standing.
In Ohio, establishing a sole proprietorship is not too difficult. Choosing a company name and registering it with the Ohio Secretary of State’s office are the first steps. You can do this via mail or online. The business owner must then apply for and receive from the state and local governments any licenses and permits that are required. The business owner must also set up a system to manage income and expenses and acquire any necessary insurance.
It is feasible to register a business name even though you won’t be using it. However, it’s critical to remember that registering a company name does not grant it any legal protection or exclusive usage rights. A similar or identical name being used by another company could cause misunderstanding and legal problems. A business owner may also be obligated to pay any associated fees or taxes even if they register a name they do not intend to use. It is advised for business owners to only register names they intend to use and to perform a thorough investigation to make sure the name is not already in use.
In conclusion, everyone who wishes to run a business under a name other than their own must first register a DBA in Ohio. The registration fee varies by county and normally costs between $25 and $50. All businesses must have a statutory agent, and while it is conceivable to serve as your own statutory agent, it is not advised. The Secretary of State’s office can provide a Certificate of Good Standing, which may be necessary for a number of reasons. Although it is very easy to start a sole proprietorship in Ohio, business owners must acquire all appropriate licenses, permits, and insurance. Finally, it is advised that business owners register only the names they intend to use and carry out a comprehensive search to make sure the name is not already in use.