For most people, the answer is no, unless you want to operate your business under a different name than the LLC. … But if you are operating as an LLC or corporation, then the company is treated as a separate legal entity that is different from the person or people who own it.
Can my business have a different name than the LLC?
Cannot match an existing LLC name – Your LLC name must be unique to your company and cannot be the same as one already registered with your State. Cannot contain words for other business entity types such as DBA, incorporated or corporation – which would be misleading to consumers.
Can you own a business under a different name?
Sole Proprietorships and Partnerships
Sole proprietors and partners doing business as any name other than their own will need to file a DBA for that name. They will also need to file separate DBAs for any additional names under which they do business.
What does LLC stand for after a name?
Simply put, an LLC is a “limited liability company,” which has some features of both partnerships and traditional corporations. It provides greater liability protection than individual ownership and may have perpetual existence. However, an LLC is also somewhat simpler to manage than a traditional corporation.
Does the name of your LLC matter?
It does not matter what you call the LLC. Typically, although not exclusively they are named after the address of the building,or the people who founded it. That LLC can exist regardless of whether it runs one business or 50…. and there can be LLCs in every state with that same name.
Can you sell a business but keep the name?
If you sell or transfer your business ownership to someone else, you will need to transfer ownership of your business name as well. While you have the option of selling a business and retaining ownership of the business name, if you decide to transfer the business name, there are a few things you’ll need to consider.
What does LLC stand for when someone dies?
Death is almost always a complicated event for the survivors, who have not only emotional but also logistical considerations to manage. However, when an owner (typically called a member) of a limited liability company (LLC) dies, it exacerbates the difficulties for the surviving members.
Can I use Co in my small business name?
Yes. There is no prohibition to use the word Co or Company with your business name, whether your business is registered or not. If it is registered as a Company, then a suffix “ private limited” or “limited” in case of public limited company is required.
Which is better LLC or LLP?
Choosing the Best Option for You: LLP or LLC
Take time to weigh the pros and cons of each business structure. … Overall, if your main concern is limiting liability or tax flexibility, an LLC is probably your best option. However, take a look at your state tax laws; some states may impose a higher tax on LLCs than LLPs.