One of the first steps you must do if you intend to launch a business in Washington State is to secure your organization name. In order to ensure that your selected business name is available for usage, this crucial step in the registration process with the state must be completed. We’ll walk you through the procedures you must follow in order to reserve your entity name in Washington State in this article.
Find your UBI (Unified Business Identifier) number before you begin the process of reserving your organization name. This is a special identification number that the state of Washington has given to your company. By looking up your company in the state’s online business search tool, you can find your UBI number. Before you can get a UBI number, you must first register your business if you haven’t already.
The IRS issues your company an EIN (Employer Identification Number), a distinct nine-digit number, for tax-related purposes. An EIN can be obtained for free in the state of Washington. How much does it cost to obtain an EIN number in the state of Washington?
Do I therefore require an EIN in Washington State?
You might not require an EIN if you’re a solo proprietor with no workers. However, you will require an EIN for tax purposes if you have workers or run your firm as a partnership, LLC, corporation, or another entity form. Some banks furthermore demand an EIN in order to open a business bank account.
You are now prepared to reserve your entity name after obtaining your UBI number and determining whether you require an EIN. You must submit a Name Reservation Request to the Washington Secretary of State’s office in order to do this. Through the state’s Corporations and Charities Filing System, this can be done online. Your organization name may be reserved for a cost of $30; the reservation is good for 180 days.
In conclusion, reserving your corporate name is an integral part of the beginning a business procedure in Washington State. You can check to see if your preferred name is available for use and start the process of registering your business with the state by following the instructions provided in this article.
Business licenses in Washington state do really expire. Most licenses have a one-year expiration date and need to be renewed every year. Some licensing categories, however, could have various deadlines for renewal or varied expiration dates. To prevent penalties or fines, it is crucial for business owners to keep track of the dates on which their licenses expire and renew them on time.