LLC in Your Business Name: Do You Need it?

Do you put LLC in your business name?
When to Use “”LLC”” in Your Business Name. You should always include “”LLC”” on all invoices, contracts, leases, legal records, tax returns, letterheads and other purposes. In most states, it is required to add “”LLC”” to your business name when forming your business, filing for an EIN or paying taxes.
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One of the most crucial decisions you must make when beginning a business is picking a name. Customers will recognize you by it, and it will also serve as a representation of your brand. But is it necessary to have “LLC” in your company name? The answer is no, but there are several crucial factors to take into account.

Let’s first discuss what an LLC is. A business form that provides personal liability protection for the owners is an LLC, or limited liability company. This implies that the owners’ private assets are safeguarded in the event that the company is sued or owes obligations. However, just because you create an LLC doesn’t mean your company name has to reflect that.

Why then would you want “LLC” in your company name? One benefit is that it might give your company more credibility. It demonstrates your lawful business formation efforts and establishes your legitimacy. A “LLC” may also need to be included in your name if you intend to do business with large corporations or the government.

Let’s now discuss registering your company with the government. In the majority of states, you must register your business with the state if you are conducting business under a name other than your own. The “doing business as” or DBA registration is the popular name for this. It’s crucial to check with your state’s business registration agency because the procedure and standards vary by state.

Next, you will want a seller’s permission if you intend to offer goods or services in South Carolina. You can submit an online or postal application for a seller’s permit through the South Carolina Department of Revenue. You will be asked for information about your company, such as your federal tax ID number and a few other necessary details.

Finally, a sales tax number is required if you plan to charge South Carolina customers sales tax. You can apply online or by mail for this, which is also issued by the South Carolina Department of Revenue. You must collect and send sales tax on applicable sales after you receive your sales tax identification number.

One thing to keep in mind is that if you operate a business that sells goods or services online without having a physical presence in South Carolina, you may be categorized as a “remote seller.” As a result, even if you don’t have a physical presence in South Carolina, you can still be compelled to collect and submit sales tax there. Because the regulations governing distant sellers are intricate, it is crucial to speak with a tax expert.

In conclusion, while it’s not required, adding “LLC” to your business name can boost its legitimacy. If you intend to conduct business in South Carolina under a name other than your own, you must register your company with the state, get a seller’s permit, and receive a sales tax identification number. If you conduct business online, you can be categorized as a remote seller and obligated to gather and remit sales tax to the state of South Carolina.