how to incorporate a business name

Unless you need to issue stock, you can gain many benefits of incorporation simply by forming an LLC. It's also a good idea to come up with an alternate name in case your first choice is not available. This depends on the state of incorporation. What Is a Small Business Loan Application? Alyssa Gregory is former writer for The Balance Small Business covering small business management. Once you create a business name, you should check with your state's corporate filing office as well as federal and state trademark registrars to see if it's available. That means that if you get sued or your business doesn't succeed, your personal assets generally won't be at risk. Next, you need to select a state as your headquarters' location. Now, it's time to decide what type of corporation you will form. Wordlab will give you a number of business name generators to help distill down your chosen niche faster. Each structure has its own set of pros and cons; the best format will depend on your business, location, and specific needs. (877) 881-0947Call us Monday-Friday 6am-6pm PT. A corporation or LLC with business locations in multiple states may incorporate in a single state and then register to do business in additional states. You can incorporate your business as a C Corporation, an S Corporation or an LLC. Each of these types has its own advantages and disadvantages, so you should explore the explanations of each corporation type and consult a tax accountant for advice. Register your business to make it a distinct legal entity. Choose a name that complies with your state’s regulations. apply for a designating number (numbered corporation) in lieu of a name. A corporation is required to have a board of directors who are effectively responsible for running the corporation. The designating number that the Registraire des entreprises will assign to you will consist of a number and the word Québec, followed by “inc.”; or propose a name for the corporation. Use this free service to check whether your business name is available in the state of your choosing, and then register it. We can help you incorporate. Next, you will select the type of shares your corporation will sell to stockholders. Incorporate your business. Complete the Incorporation Questionnaire. C-Corporation: C-corporations (or C-Corps) include the behemoths of the business world. Next, you need to select a state as your headquarters' location. Notably, LLC's create a separate legal entity, shielding the owners from business liabilities—as long as the business actually remains a separate entity. How and where you need to register depends on your business structure and business location. You will leave the IRS website and enter the state website. People do judge businesses by their names. Your business name can make or break you, and there are tons of strategies to take. There are many attorneys on the UpCounsel marketplace who could help you incorporate your business. As with an LLC, there are designations, such as including “Corp.,” “Corporation,” or similar in the title. You will then obtain and complete a Certificate of Incorporation, available from your state's corporate filing office. LLC or Corporation - What's the Right Choice? 2. The first step is choosing a name for your business. Identify Your Location. Forming a California corporation increases the credibility of your business. DBAs:If a business is using a name other than its official name, it must file a Certificate of Assumed Business Name with the Secretary of State. Fictitious Name Filings 6. Business Name Reservations 7. Business Links to Helpful Organizations & Government Agencies Rocket Lawyer provides information and software only It doesn’t matter whether you want a construction company name or a food business name. Find out if the name is taken. The drawback of partnerships is that they may dissolve if one partner leaves, or if another joins. After everything is filed away, you may want to consider trademarking your business name. Just answer a few simple questions, and we'll take care of the rest. If you are your brand, as many celebrities or fashion designers are, then you can incorporate using your name as the company name. This unique feature makes this business type near-mandatory for companies that rely heavily on venture capital or numerous investors. You have the option of filing the paperwork yourself, through your attorney or by using a third-party service. Fill out our simple questionnaire. If your state doesn't allow statutory conversions, the process may be similarly completed with a statutory merger. When you incorporate, you must add "incorporated," "corporation" or similar to the name. If the business is administratively dissolved, the business may file an Application for Reinstatement. On the other hand, S-Corps are not as flexible as LLC's and are subject to more regulation. Easy. This doesn't necessarily need to be where you live or even where you expect to do the majority of your business, although sticking with your home state may be an easier process. After you come up with the perfect business name, you'll need to decide if you want to incorporate. You should always consult an accountant and/or an attorney if you have questions about the process. Partnerships: Partnerships are about what you'd expect: an agreement between two or more individuals who all contribute and receive benefits from their venture. If you're currently a sole proprietor, then there's nothing to worry about. If you're serious about … Use of Rocket Lawyer is subject to our Terms of Service and Privacy Policy. It gives you a lot of the benefits of a corporation without some of the compliance hassles that come along with running an S- or C-corporation. The Balance Small Business uses cookies to provide you with a great user experience. By using The Balance Small Business, you accept our. The process is called statutory conversion and is completed by filing a single form, typically called a Certificate of Conversion. Rules about business names vary from state to state, but most include these … LLC's also practice pass-through taxation and can have any number of owners, but cannot issue stock. By incorporating, you remove the risk of losing all your personal assets and holdings if your business fails or loses a lawsuit. Example: … If you're curious about your own state's rules, check with your Secretary of State—we've compiled a list state for you here. Limiting your personal assets will protect your home and other belongings from being seized as collateral. Make sure you take the time necessary to gather all of the information you need to make an informed decision. Answer a few questions. A Checklist So You Don't Miss Anything, Here Are the Steps to Follow to Incorporate Your Business in Canada, How to Weigh the Pros and Cons of Incorporating Your Small Business, How to Start a Business in Canada -- When You're Not Canadian. Series LLC - Is it Right for Your Business? However, in many states, all that is required is for you to file articles of incorporation with your Secretary of State's office. Search for a Business Order Business Documents & Certificates of Status Register a New Business, Trade Name or Tax Account Manage Change, Cancel, Revive and Manage Existing Businesses File Annual Report & Personal Property Tax Returns, Late Penalty Payments Business FAQs Each incorporated entity type is different, but they share certain important traits across the board. The entity forms are PDF fillable and can be submitted using our Document Upload Service or by mail. It should be something people will understand and remember. No obligation to purchase. File a DBA or "Doing Business As" (mandatory in some states) Register a trademark. This is a roundabout way to do the same thing—first by creating a new company with the desired business type and then merging the old one into it. If you have questions about changing your existing business structure, we recommend that you ask a lawyer. You need to be concerned with how your business … Even when it is legal to use an existing business name, it … This business type is popular among restaurant owners and landlords, among others. The Balance Small Business is part of the. Incorporating is often as easy as filing articles of incorporation. Limited Liability Company: A limited liability company (or LLC) is perhaps the most popular small business structure. See state processing times; What are the state fees to incorporate? Name Reservation (Before reserving a name check the Restricted Word List) Obtain a Nevada State Business License Only - note: the Business License form is also found under each entity type above Choosing the structure of your business is not an easy or small decision to make. Reserving a name does not create a legal business structure. We'll go into some of the differences below; but for starters, here are a few of the best reasons for incorporating your new business: Tax Benefits: LLC's and corporations allow you to draw a salary, write off business expenses, and avoid taxes on some of your profits. Although it can vary from state to state, Incorporating is a fairly simple process. If you need a business registration number from one of the states listed on this page, all you need to do is click on one of the links below. If you are unsure what structure is best, review the advantages and disadvantages of the U.S. Small Business Administration website. The name application costs $15. If you choose to mail, a cover sheet with your name or entity name, return address and phone number is required. An effective business name should fit what you do, how you do it and the audience you are trying to reach. Shopify’s business name generator is easy to use and will produce results instantly. Completing and filing the certificate is all it takes to change business entities. choose a structure. After the name application has been approved, the name will be reserved for 120 days. Incorporate Now 800-981-7183 ; My Account ; Search ; Business Types. Incorporation can be a benefit to any business, large or small. The 10-second business name creator. For corporations or companies there's more to consider; however, many states have passed laws that make it significantly easier. CERTIFICATE OF INCORPORATION / FORMATION FORMS Sample forms with instructions and fees are available. (check name availability - Note: Name availability can not be guaranteed until filing is approved.) Access to Capital: Banks and other lenders see incorporated entities as more legitimate. Business owners often decide to incorporate to protect their personal and business assets. Individual contractors and freelancers are often classified as sole proprietorships. If the proposed business name is available, you can incorporate a business in California by filing articles of incorporation. That means there's no legal distinction between you and your business. In fact, sole proprietorships are automatically created simply by doing business. How to Transform Your Small Business into a Big Business, How to Incorporate Your Small Business in 7 Steps, LLC Tax Advantages and Disadvantages Explained, Learn How to Incorporate Your Nonprofit Organization, What You Need to Know about Articles of Incorporation, Incorporating a Business? For many startups and solo-run businesses, however, the C-Corp may be overkill. This is called a corporate name. When you start a small business, you need to decide how to structure it. Many law firms are common examples of partnerships as they are prohibited from incorporating as an LLC. Once you’ve picked your name, you should protect it by registering it with the right agencies. Compare state fees for Corporations and LLCs; How do I comply with corporate formalities and deadlines? In other words, all business taxes are handled on your personal filings (often called pass-through taxation) and your business provides no personal protection from liability in the event that your company is sued. If you're serious about your business, strongly consider incorporating it. Panabee has you start searching with two keywords and then helps you come up with not just a business name, but a domain name or app names. The first step to incorporating is deciding on how you want to name your corporation. Liability Protection: Incorporated businesses are separate from their owners. By law, the name of your business can't be the same as or very similar to an existing corporate name or trade-mark. It is very important to note that Sole Proprietorships are NOT incorporated entities. While there are many different types of partnerships, they all have basically the same principles behind them. In Utah, Rocket Lawyer is a nonlawyer-owned company authorized to provide legal services, including the practice of law, by the Utah Supreme Court; further information regarding this authorization can be found here. Decide if your business will benefit from incorporation. They can also issue stock (though are limited to 100 shareholders) and, unlike C-Corps, are not subject to double taxation. Once filed with the state, this document formally creates your Georgia corporation. The objective of this process is to select one that is successful in creating a brand image. A C-corporation is the only entity that can issue an unlimited amount of stock and different classes of stock. The final step of incorporation involves submitting the articles of incorporation you prepared in the last step to the state, along with the required registration fee. It takes years to create a great brand, but you can have a creative brand name in seconds. Information on Missouri Business Entities 4. Incorporating isn't mandatory, but doing so can provide you and your business greater flexibility, liability protection, and a more professional image. Avoid names that are too narrow or too literal. Your Business Name. In most cases, if someone is already using a name, you cannot legally use it. IC 23-1-46-3. 1. This means, to incorporate your business, you must formally register, file annual reports, and pay annual fees to conduct business in multiple states. Shopify’s free naming brand generator lets you jump from naming your brand to securing the domain name, to starting your small business - all in a few clicks. There are a couple of things to consider. The Business … The first is the message your business name is trying to communicate to customers, be it your story, your vision, or just simply the way you do business, which you will incorporate into your brand identity. Registering a name You must first register a business name via BizFile+ before you can register/incorporate your business entity. You can find the right business name with creativity and market research. You'll have an easier time getting cash to grow your business and you can also distribute stocks. It also limits the owner’s legal liability and offers tax advantages. Incorporating isn't mandatory, but doing so can provide you and your business greater flexibility, liability protection, and a more professional image. The Articles of Incorporation cost $100 to file (plus $50 to file your initial report). This doesn't … Remember: What you call your business isn't necessarily what it will be registered as when you incorporate or become an LLC. Perhaps the hardest part of incorporating is deciding which entity you'd like to be. Standard partnerships also lack any liability protection unless you form as an LLP—a limited liability partnership—which insulates each partner from being liable or responsible for the actions of another partner. Even if the state approves your name reservation, there's no guarantee that it will accept the name when you decide to incorporate under that name. The name must end with some designation that shows the corporate status of your business, such as "Corporation," "Incorporated," or "Limited." A trademark isn't necessary to gain protection, but it provides legal benefits should you ever need to defend your newly minted name in court. "An LLC is the best way to allow you to bring in partners to help fund your new business because of the flexibility of this type of entity.". Copyright document.write(new Date().getFullYear()); Rocket Lawyer Incorporated. Incorporating gives you the benefit of limiting your personal liability and making your business easier to transfer to others. You want your customers to recognize your name and your brand at the same time. You can file the document online or by mail. Your corporation can have either a corporate: Some factors to consider when choosing a state for incorporation include the cost to incorporate, taxation and corporate laws. There are some more steps to complete with a merger, since it requires creating a new company, rather than recategorizing an existing one, but it's still fairly straightforward. We've done our best to compile proven naming a business tips in this post. We'll take care of the rest. through this website; Rocket Lawyer is not a "lawyer referral service" and does not provide legal advice or participate in any legal representation; Rocket Lawyer is not a law firm or a substitute for an attorney or law firm. State fees vary by the state and company type. After you come up with the perfect business name, you'll need to decide if you want to incorporate. 1. Only private U.S. citizens or legal residents can own an S-corporation. Our Business Name Suggestions Creating a Brand Image. S-Corps, like all corporations, enjoy limited liability status. If you are from one of these states and you also want to get a federal Employer Identification Number (EIN), you may obtain both your state and federal information in one session. Every incorporated business must have a name that legally identifies it. LegalZoon allows you … The next step involves selecting the directors. Registering your corporation: As with LLCs, LPs, and nonprofits, forming a corporation involves several steps and a certain amount of paperwork, all of which will—you guessed it—vary state to state. It will include your company name, the purpose of the business, location and other information gathered in the previous steps. As the incorporation process can be complicated, you might want to seek the help of an expert. If you have determined that a corporation is the best structure for your business, here is a review of some of the benefits of forming a corporation -- follow these seven steps to becoming incorporated. For that, you'll need to incorporate or form an LLC. The selection of directors is a very important decision and can impact your business in many ways. Let's take a look at the options: Sole Proprietorship: A sole proprietorship is the default business entity. A business becomes a 'legal entity' meaning that it can own property, can hold … You should choose the option that you are most comfortable with and the one that works within your budget. 5. Business licenses, permits & other essentials, Mark Rosenberg, Rocket Lawyer On-Call Attorney. However, to actually ready the corporation to do business, you must complete several additional steps. 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