Incorporating a Trade Name: What You Need to Know

One of the most crucial decisions you will make when beginning a business is the name. A trade name, commonly referred to as a “doing business as” (DBA) name, is the name used by a firm to conduct its operations and differs from the legal name of the owner or owners. Brand awareness and legal protection are just two advantages of incorporating a trade name. But is it genuinely possible to integrate a trade name?

Yes, a trade name can be incorporated, to answer your question. In reality, many businesses regularly incorporate their trade names. A trade name is effectively registered as a separate legal entity when it is incorporated. This implies that you can sign contracts, conduct business under that name, and more.

You must submit the proper documentation to your state’s Secretary of State office in order to incorporate a trade name. It’s crucial to do your homework and make sure you adhere to the right processes because the specific method and requirements may change based on where you live.

Let’s now discuss the associated queries regarding the startup costs for businesses in Georgia. In Georgia, creating an LLC costs $100. When you file your articles of organization with the Secretary of State, you must pay this charge. In addition to this charge, creating an LLC may involve additional expenses such legal fees and the price of acquiring relevant licenses and permits.

A key step in beginning a business is obtaining an EIN number, often known as an employer identification number. If you want to hire staff or open a bank account in your company name, you must have this number. It is used to identify your firm for tax purposes. Fortunately, getting an EIN number in Georgia doesn’t cost anything.

So, how much does it actually cost to create an LLC in Georgia? It’s challenging to provide a precise response because the price will vary depending on a variety of elements, including legal fees and the price of acquiring required licenses and permits. The initial charge of $100 for filing your articles of organization, however, is a decent place to start.

Let’s finish by discussing whether business structure is preferable—an LLC or a single proprietorship. The answer will depend on the particular demands and circumstances of your organization. In general, a sole proprietorship is simpler and easier to start up, whereas an LLC offers more legal protection and flexibility. To decide which choice is best for you, it’s crucial to speak with a legal and financial expert.

In conclusion, incorporating a trade name is an option that has several advantages for your company. It’s crucial to learn about the procedures and regulations in your state, though. When launching a business in Georgia, be ready to shell out a base price of $100 to create an LLC and receive a free EIN number. The choice between an LLC and a single proprietorship will ultimately be based on your unique circumstances and objectives.