Naming Considerations for LLCs
Naming an LLC after yourself connects the company with your brand. It establishes credibility and provides personal pride. However, consider the downsides as the company grows.
Operating under a DBA
Running the company under a DBA ("doing business as") with a different name offers benefits of a personal LLC publicly under another name.
LLC Name Importance
Choosing a distinctive and memorable name for your LLC is crucial as it impacts your business. Avoid naming the company after yourself unless you own it.
LLC Structure and Liability
LLC structure ensures personal asset protection in case of financial difficulties. LLC owners should consider having liability insurance.
LLC Tax Classification
LLCs are "pass-through" entities but can elect to be taxed as an S-Corp or C-Corp. Consult IRS forms 2553 for more details.
Reinstatement and Liability
If an LLC is dissolved, reinstatement may not be an option in some states. Liability protection does not cover personal negligence or malpractice.
LLC Naming and Duplication
LLC names must be unique within a state; businesses can have identical names in different states. Choose a legal name for your LLC carefully.
LLC Operational Information
An LLC Organizer files formation documents with the state. LLCs structure business assets and liabilities separately from the owner’s.