Over time, you may decide that the business name you chose for your company no longer accurately reflects your brand. Or you might decide you would be better off legally to have a different name.
Depending on the entity type, the process for changing a business name varies. It can be confusing, so let’s take a moment to break down the options that sole proprietorships, partnerships, LLCs, and corporations have when changing their company name.
While this guide will give you an understanding of what’s involved, it is not a replacement for advice from a lawyer. Changing your business name may have legal implications, so it’s best to talk with a licensed business attorney before jumping into action.
Sole proprietorships and general partnerships
Operating as either of these entities means you have not set up an official business structure with the state. A sole proprietorship or partnership are one in the same entity as their owner(s)—the business name must have the owner’s first and last names in it. However, that doesn’t mean sole proprietorships and general partnerships can’t market themselves under a name that’s more interesting and attractive. They can file for a fictitious business name, also called “Doing Business As” (DBA).
If your business is a sole proprietorship or partnership and you want to change your DBA, you can do so by:
- Canceling the existing DBA and filing for a new one. This involves contacting the government authority that approves and registers DBAs, or you might consider using an online legal business document filing service to handle the details for you.
- Contacting your bank to find out if the existing business bank account’s name can be changed to the new DBA, or if it will require opening a bank account for the new DBA.
- Checking with the county, city, and local government authorities to find out if business licenses and permits must be updated or obtained for the new DBA.
- Finding out from the IRS if getting a new DBA will require applying for a new Employer Identification Number (EIN).
- Notifying the IRS of the new DBA. The following is from the IRS website:
- Sole proprietors: “Write to us at the address where you filed your return, informing the Internal Revenue Service (IRS) of the name change. Note: The notification must be signed by the business owner or authorized representative.”
- Partnerships: “If you are filing a current year Form 1065, mark the appropriate name change box on the form: Page 1, Line G, Box 3. If you have already filed your return for the current year, write to us at the address where you filed your return to inform us of the name change. In addition, the notification must be signed by a partner of the business.”
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Limited liability companies and corporations
Businesses registered as either an LLC or a corporation may change their name using one of two methods. One requires abandoning the original business name entirely while the other maintains the original name and creates a new one for marketing purposes (such as for a new product line).
1. File Articles of Amendment with the state to change the business name
By filing a document called “Articles of Amendment,” an LLC or corporation can request to change the name of the business. When approved, it means your company will operate under its new name. Note: Businesses that have foreign qualified in other states (i.e., are registered in multiple states) must file Articles of Amendment in all those states.