There are specific measures you must take if you are a business owner in Arkansas and you have decided to dissolve your DBA (Doing Business As) or fake name in order to make sure the procedure is carried out properly and legally.
Step 1: Inform Your Clients and Vendors Notifying your clients and suppliers of your closure is the first step in terminating your DBA. This will make it easier to steer clear of future misunderstandings and uncertainty. You can accomplish this by writing a letter or email to your clients and suppliers, posting a statement on your website, or using social media.
The Secretary of State of Arkansas must be contacted after submitting a Certificate of Termination. This official dissolution of your DBA is a legal document. The Certificate of Termination can be submitted online or by mail. The Certificate of Termination must be filed with a $50 filing fee.
Step 3: Cancel any business permits or licenses Before you may formally dissolve your DBA, you must cancel any business licenses or permits that are connected to it. Any licenses or permits issued by the state of Arkansas or your local government fall under this category.
Closing your business accounts is step four. Last but not least, you must close any company accounts connected to your DBA. This includes any additional accounts that your company utilizes for financial activities, such as credit card accounts and bank accounts. Make sure to settle any existing debts and move any remaining funds to a fresh account linked to your legal company structure. Does Arkansas Require a Business License for Online Sales?
You might need to get a business license if you sell products or services online in Arkansas. Depending on the kind of business you run and where it is located, different licenses have different criteria. To find out if you require a business license, it is advised that you contact the Secretary of State’s office in Arkansas or your local administration. Do You Need to Register Your Business Legally?
Yes, you must register your company with the Secretary of State’s office in Arkansas if you run a business there. This entails registering your company name and acquiring any essential permissions or licenses. Do Lawn Mowers in Arkansas Need a Business License?
You might need to get a business license if you run a lawn care company in Arkansas. Depending on where your firm is located, there are different licensing requirements. It is advised that you contact your neighborhood administration to find out if you require a company license. What Does an LLC Qualify As?
A Limited Liability Company (LLC) is a legitimate business entity that exists independently of its owners. This indicates that an LLC’s owners are not held personally responsible for the debts or liabilities of the company. Because it combines the liability protection of a corporation with the tax advantages of a partnership or sole proprietorship, an LLC is regarded as a hybrid business entity.
In Arkansas, a registered agent may be either a person who resides in the state or a company that is permitted to conduct business there. In order to accept legal documents on behalf of the company, the registered agent must have a physical street address in Arkansas and be accessible during regular business hours.