Step 1: Perform a name search You must perform a name search to make sure the name is available before registering your FFN. Through the website of the Nevada Secretary of State, a search can be conducted online. You’ll have to pick a different name if the first one is already taken.
Step 2: Register your DBA or business name After choosing a distinctive name, you must register your “doing business as” (DBA) or trade name with the Secretary of State. You can do this via mail or online. In Nevada, a DBA filing costs $25.
The acronym DBA stands for “doing business as.” It’s a moniker that a company employs for marketing and promotional efforts but which differs from the official name of the company. For instance, if John Smith wants to build a restaurant with the name “John’s Cafe,” but his actual business name is “Smith Enterprises LLC,” he would have to submit a DBA for “John’s Cafe” in order to use that name in his advertising.
You might need to apply for extra licenses and permits from the state of Nevada or local government organizations depending on the kind of business you’re running. For instance, the Nevada Health Department will need you to apply for a food service permit if you plan to start a restaurant.
Step 4: Submit annual reports Once your FFN has been established, you must continue to keep it registered by submitting yearly reports to the Secretary of State. In Nevada, filing an annual report costs $150.
You must file an update to your articles of organization with the Secretary of State if you need to change your company name in Nevada. A file amendment will cost you $175. If you intend to use a different name for advertising and marketing, you’ll also need to submit a new DBA or trade name registration.
Creating numerous “series” within the firm, each with its own assets, liabilities, and members, is possible with a series limited liability corporation (LLC). The entire LLC is nevertheless regarded as a single legal company even though each series conducts business as a separate legal entity. Nevada recognizes series LLCs, which can be a helpful tool for companies with several distinct business lines or real estate assets.
A DBA has the drawback that it offers no legal protection for your company name. Another company may be able to sue you for trademark infringement if you are already using the same or a name that is similar to theirs. Additionally, you won’t have the same liability protection as other sorts of organizations if you use a DBA but haven’t established your company as an LLC or corporation. A corporation that merely has a DBA and no registered legal business name may not be accepted by all banks and financial institutions.