Quick Answer: Does Your Business Name Have To Be The Same As Your LLC?

What if your LLC makes no money?

But even though an inactive LLC has no income or expenses for a year, it might still be required to file a federal income tax return.

An LLC may be disregarded as an entity for tax purposes, or it may be taxed as a partnership or a corporation..

Can two LLC have the same name?

Yes, with some exceptions. When you’re forming a corporation or an LLC in a state, the name must be unique to your business within that state. Others can form LLCs and businesses in other states that have the same name as yours.

Can 2 businesses have the same name?

A company cannot have the same name as another registered company. Any company formation or change of name application containing a company name that is the ‘same as’ or ‘too similar’ to an existing name will be rejected by Companies House. These rules exist to protect the general public from being misled or confused.

Can an LLC own a trademark?

There are many different types of legal entities that can own a trademark. The most common that we see, and also the simplest, are LLCs and corporations. Usually, a LLC or corporation develops a mark to identify itself as a source of goods or services.

Does an LLC dissolve if a member dies?

An LLC does not automatically terminate or dissolve with the death of one of its members unless a specific law or clause designates this should happen. Dissolution means that the LLC winds up its business, pays off its debts and finishes or transfers its contracts.

How do you come up with a good LLC name?

How to Choose an LLC NameMake It Legal. The most important thing when you’re choosing an LLC name is to make sure it’s legal. … Make It Memorable. You want your LLC name to be something people can remember. … Make It Meaningful. … Make It Original. … Make It Distinctive. … Make It Domain Name Ready. … Make It Social Media Friendly.

Does my LLC name matter?

California. You will need an original name for your LLC that is not used by another LLC in California. Conduct a California business entity name search to find out if another company is using your top business name choice before you register it.

Can I use enterprise in my business name?

The term enterprise can technically be used to label a company. However, it is more commonly used to describe the sense of growth and action, as in the case of a private enterprise.

What is the downside to an LLC?

Profits subject to social security and medicare taxes. In some circumstances, owners of an LLC may end up paying more taxes than owners of a corporation. Salaries and profits of an LLC are subject to self-employment taxes, currently equal to a combined 15.3%.

What are some examples of LLC companies?

LLCs, or limited liability companies, have many advantages when running a business, which is why they’re a popular business entity. Here are some examples of famous LLCs….There are many other famous LLCs, including the following:Blackberry.Pepsi-Cola.Sony.Nike.Hertz Rent-a-Car.eBay.IBM.

Should I get an LLC for my small business?

An LLC is often an appropriate choice for small businesses because it offers reasonable liability protection with a minimal amount of paperwork and regulatory burden. Consider the pros and cons of each structure — and if you aren’t sure, it’s best to start with a simpler sole proprietorship or partnership structure.

Should I get a trademark or LLC first?

In many cases, a business will want to start the trademark application as soon as their LLC or corporation paperwork is filed. By filing for a trademark prior to launch, you can be sure that your name is protected once you begin commercial sales. However, there may be an even stronger reason to apply early.

How do owners of an LLC get paid?

As the owner of a single-member LLC, you don’t get paid a salary or wages. Instead, you pay yourself by taking money out of the LLC’s profits as needed. That’s called an owner’s draw. You can simply write yourself a check or transfer the money from your LLC’s bank account to your personal bank account.

Do you have to put LLC after company name?

Most states require an LLC designation be included in the name of a company that’s registered as an LLC. The designations vary from state to state, but generally include phrases or abbreviations such as “Limited Liability Company”, “Limited Liability Co.”, “LLC” and “Limited”.

Is LLC name same as business name?

The LLC name, or legal name, is the official name of the entity that is used to sign documents, file tax returns, file lawsuits, or to submit a loan application with a bank. On the other hand, a business name, or trade name, is the name the public uses to identify your business.

So, do you need to incorporate “LLC” in your logo? In short, the answer is no. In fact, none of your branding/marketing needs to include “LLC,” “Inc.” or “Ltd.” If it is included, this may look amateur. … Logos are an extension of a company’s trade name, so marketing departments don’t need to include legal designation.