How to Change a Business Name
A name is very important in whatever aspect you look at it.
When it comes to business, this also plays an important role because of the fact that this will be the flag carrier of everything.
But what if you just thought to change the name of your business one day? This will require a big step for the company because you have to go through several steps before you get a new name. It is very important for you to contact the governing authorities in your state to be able for you to make the name changing official. By failing to comply with the rules and regulations set by the government, you will experience lots of troubles in the future.
The first step in the process of changing your company’s name is to check the office of the state attorney general. By doing this, you will be able to know if your chosen name has already been taken by a certain company. Upon knowing that another company is already using your chosen business name, you have to think of another one.
Tips on How to Change a Business Name
After checking that a business still don’t have registered the name which you have chosen, then you must immediately get a form in the Circuit Court Clerk's Office. After completing the form, you can already proceed to registering your latest business name with the state attorney general. There are also fees required in changing your business name which include the filing of your paperwork.
To make sure that every business transaction you conduct is legal, you also need to notify the Internal Revenue Service. Even if you already have a new business name, you still need to include the name of the old business, the new name, telephone number, address and Employer Identification Number or (EIN). A new EIN need not be obtained unless you are a partnership, corporation or sole proprietorship. Now, what if you have a sole proprietorship business? You also need to sign the Internal Revenue Service notification. If the type of your business is corporation, it would be the job of the corporate officer in signing the notification. If you have a partner in business, he also needs to sign the IRS notification.
When everything has been done, the next thing you need to do is to mail the certain notification to the address of the Internal Revenue Service which is located on the tax return. When your new business name has already been approved, the next thing you need to do is notify your suppliers, clients and customers. Since it would be the future of your business which is at stake, you also need to notify your advertising outlets with regard to your new name.
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