An important first step in beginning a business is picking the appropriate business name. However, it’s crucial to confirm that your chosen business name is available and not currently in use by another person before making a final decision. We will go over how to determine whether a business name is available in this article.
To find out if the name you have selected is already being used by another company, you must first perform a name search. You might start by conducting a quick Google search to see if any other companies are using the same name. To see if the name is already registered, you can also contact the office of business registration in your state.
Check with the USPTO to see if your company name has already been registered if you intend to use it as a trademark. To look for registered trademarks, go to the USPTO’s online database. You might need to select an alternative name or apply for a trademark under a different classification if your name is already registered as a trademark.
You should check with your state’s business registration office to see if the name you have chosen is available after conducting a name search and contacting the USPTO. You may look up registered business names in most states’ online databases. You might need to select a new name or submit a “Doing Business As” (DBA) name if your preferred name is already in use.
You can still use the name you’ve picked if it’s currently in use by applying for a DBA name. Using a DBA, which is a legal name, you can conduct business using a different name. Nevertheless, using a DBA name has significant drawbacks. For instance, a DBA may confuse clients and offers no legal protection for the name of your company.
Asking How Do I Pay Myself From My LLC is Another Option You may be asking how to pay yourself if you have created an LLC. You can choose between taking a salary, getting dividends, or taking a draw as an LLC owner to pay yourself. The ideal choice for you will rely on a variety of factors, including your unique situation with regard to taxes and the demands of your company.
As we previously stated, there are several drawbacks to using a DBA name. For instance, a DBA may confuse clients and offers no legal protection for the name of your company. A DBA also does not provide any liability protection for your private property.
Whether obtaining a DBA is worthwhile will depend on your specific situation. A DBA can be your best choice if you are unable to utilize your preferred business name because it is already in use. However, it could be preferable to forego employing a DBA if you have the choice to choose a distinctive business name.
If My LLC Made No Money, Do I Still Need to File Taxes? Your LLC might still be obliged to file a tax return even if it lost money. Even if your LLC did not make any money, you must still submit a federal tax return as the owner. Depending on the requirements in your state, you might also need to file state and local tax returns.
In conclusion, determining whether a business name is available is a crucial first step. You may make sure that your company name is available and legally protected by completing a name search, checking with the USPTO and your state’s business registration office, and filing for a DBA if necessary. Additionally, being aware of your tax requirements, the drawbacks of a DBA, and how to pay yourself from your LLC will help you make wise business decisions.