Registering a Trade Name in Maryland: How Long Does It Take?

How long does it take to register a trade name in Maryland? That is probably one of your first questions if you want to launch a new company there. The good news is that the procedure is often easy to follow and may often be finished within a short period of time. In this post, we’ll go through how to register a trade name in Maryland and address some related queries, like LLC vs. sole proprietorship, how to register a sole proprietorship, how to renew an LLC, and how to change your company name.

Let’s first examine in more detail how to register a trade name in Maryland. Businesses must register their trade names with the Maryland Department of Assessments and Taxation (SDAT) in order to do business in the state. You must complete an application form and mail it in or submit it online in order to do this. Information like your company’s name and address, the kind of business you’re creating, and the name you want to register will all be requested on the application. A cost, which varies depending on the kind of business you are starting, will also be required of you.

The SDAT will examine and process your application after you’ve submitted it. This procedure usually takes ten business days. In Maryland, you are able to use your trade name legally provided your application is accepted and you are issued a certificate of trade name registration.

After going over the steps involved in registering a trade name in Maryland, let’s address some related queries. Whether to file as a sole proprietorship or an LLC is a popular question. Depending on your unique situation and objectives, the answer to this question will vary. The personal liability protection provided by sole proprietorships is weaker, but they are simpler and less expensive to set up. On the other hand, LLCs provide more protection but are more difficult and costly to set up.

You might be unsure whether you must register your business in Maryland if you are beginning a sole proprietorship. The short answer is no, a sole proprietorship is not required to be registered in Maryland. You must register a trade name, or a name other than your own, if you intend to use it for business purposes.

You might be asking if you need to renew your registration every year if you registered your company as an LLC in Maryland. Yes, LLCs must submit an annual report and pay a fee to renew their registration in Maryland.

Let’s finish by discussing the possibility of changing your company name in Maryland. Yes, you are able to modify your company name by submitting an amendment to the SDAT. You must pay a charge to make the change, and the procedure is comparable to registering a new trade name.

In conclusion, the procedure to register a trade name in Maryland is rather straightforward and takes about 10 business days. When beginning a business in Maryland, it’s crucial to weigh the benefits and drawbacks of forming an LLC or sole proprietorship and to be aware of the filing and renewal requirements. You can file an amendment with the SDAT to modify your company name if you need to. You may effectively register your trade name and launch your new firm with the correct information and direction.