It’s critical to comprehend the procedure and needs if you’re a business owner in Georgia seeking to change the name of your LLC. Fortunately, the procedures are rather simple and may be finished quickly. Here is a step-by-step tutorial on how to rename your Georgia LLC:
Select a New Name for Your LLC in Step 1 Selecting a new name for your LLC that is both available and not in use by another company is the first step in altering the name of your LLC. Using the online search feature provided by the Georgia Secretary of State, you can look up available company names. Once you’ve decided on a name, you should do a trademark search to be sure it hasn’t already been taken as a trademark.
Step 2: Submit Articles of Amendment to the Secretary of State of Georgia
After deciding on a new name for your LLC, you must submit Articles of Amendment to the Secretary of State of Georgia. The Articles of Amendment can be submitted online or by mail. $50 is the filing fee. The new name of your LLC and any other modifications to the articles of organization, if any, should be stated in the articles of amendment.
Step 3: Update the Name of Your LLC with Other Entities The Internal Revenue Service, your bank, and any other institutions your LLC is registered with will need to be informed of the name change once the Articles of Amendment have been submitted and approved by the Georgia Secretary of State.
Negative aspects of a DBA A DBA name, often known as a “doing business as” name, is an alternative to renaming your LLC. However, there are a number of drawbacks to utilizing a DBA as opposed to renaming your LLC. A DBA does not offer the same level of legal protection as an LLC, which is one drawback. Additionally, a DBA may not offer the same amount of brand recognition as an original LLC name and may confuse customers.
How to Take Self-Pay from Your LLC You might be asking how to use your LLC to pay yourself as a business owner. One choice is to work for the LLC and accept a pay. Taking a profit distribution as an LLC member is an additional choice. The optimal way to pay yourself from your LLC should be determined in consultation with a tax expert.
Is it Beneficial to Get a DBA? Your particular business demands and objectives will determine whether or not acquiring a DBA is worthwhile. If you wish to operate under a different name without changing the name of your LLC, a DBA may be a smart choice. However, it might be worthwhile to rename your LLC if you wish to safeguard the name and reputation of your company. In the end, it’s critical to balance the advantages and disadvantages of each choice and select the one that best suits the requirements of your company.
Choosing a new name for your LLC, submitting Articles of Amendment, and updating your LLC’s name with other entities are all necessary steps in Georgia to rename your LLC. While a DBA might be a different choice, it does not offer the same level of brand awareness or legal protection as an exclusive LLC name. Consult a tax expert to establish the most effective way to pay yourself from your LLC for your company.
Depending on the rules of your bank, you might need to register a different bank account for the DBA name if you are changing the name of your LLC in Georgia while also utilizing a DBA (doing business as) name. It is essential to inquire about your bank’s policies regarding owning various business names under one LLC.