Registering Your Business
by
jl scott, ph.d.
To be considered professional, even home workers need a company
name if they are in business for themselves. You do want to be taken
seriously, don't you? If so, you'll need to register a business
name.
The registration I'm referring to is often called a "DBA"
(Doing Business As), a "Registered Alias," an
"Assumed Name Statement" or a "Fictitious Name
Fictitious Name Registration" in most States of the USA. In
other countries, they probably have even different documents - if
they are required at all.
Corporations are registered when they are formed. However, a
company name needs to be registered even if it's a sole
proprietorship, i.e., individually owned and unincorporated. Do you
think that working on the Internet is exempt? It isn't!
Actually, I’m not even referring to the legal aspects of owning
a business. It’s a simple matter of your degree of
professionalism. If you are taking money from people to provide a
product or service - you are a business!
Without a business name registration, a bank won't give you a
business bank account. What? You don't need a business bank account?
Are you going to send refunds with your personal checks? Are you the
same person who doesn't want customers to know where you're located?
In some States, you will need to file with the County where you
live. In other States, you file with the State itself. Some places
require that you publish your intent to file a particular name - and
others don't have this requirement. The cost for this is usually
nominal in a legal publication. Filing fees are also very nominal.
Cost is never prohibitive.
The paperwork is very simple - usually one short page. You'll
need to have your signature notarized.
If the requirement for you is to file with the State, you can
call the appropriate agency and ask them to send you the paperwork.
You will then return it to them by mail and they will send you a
final copy with the State or County Seal on it.
If you must file in the County where you live, you may be
required to go to the County Courthouse to file. In that case, you
will walk out with the paperwork in your hand.
One reader wrote to tell me that his bank filed his Fictitious
Name Registration for him. This was in a location which requires
filing with the State - easily done by mail. That's a great service
for a bank to offer where it's possible.
Which brings us to how and where you file. The easiest and
quickest thing to do is call the "New Accounts" department
at your bank. Tell them you need a business bank account - and ask
what paperwork they need. They will be able to tell you the correct
document and where to obtain it. Then, call the appropriate agency
for further directions per your local laws.
Remember, in the USA you can't have a business bank account
without this document. You can't accept payment in the name of your
company and deposit it directly into your personal account. It's the
law!
Are you in business, or not? Get your business registered and get
a business bank account.
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dr. jl scott is the Director of the International Council of Online
Professionals (iCop): the membership site for current and future
online business owners. Created BY the members, FOR the members! http://www.i-Cop.org/quickstart.htm
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