This third option requires you to file a trademark application with your state or country to prevent others from using your business name.
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A corporation’s most important aspect is its limited liability. Corporations benefit from many of the rights and responsibilities of an individual person: they can enter contracts, loan and borrow money, own assets and pay taxes.
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What is a corporation?Īlmost all of the biggest, most well-known companies in the world are corporations, like McDonald’s and Starbucks.Ī corporation is a legal entity that is distinct and separate from its owners. To see whether or not an LLC is right for you, we suggest checking out this informative blog from Investopedia. LLCs are hybrid entities that share characteristics of a corporation, partnership or sole proprietorship. where the owners are not personally liable for the company’s debts or liabilities. Unlike a sole proprietorship, an LLC is a corporate structure in the U.S. What is a Limited Liability Company (LLC)? Income and losses are taxed on the individual’s personal income tax return.Ī sole proprietorship can operate either under the name of its owner (like freelancers, for example) or under a fictitious name, such as Johnny’s Burger Bar. It’s not a legal entity, it’s simply a person who owns a business and is personally responsible for its debts. What is a sole proprietorship?Ī sole proprietorship is the simplest type of business under which one can operate. There are three business structures to choose from: a sole proprietorship, Limited Liability Company (LLC) or corporation. Here is where you decide the type of business you will run. The cost to file a DBA varies by state, but for it generally costs between $10 to $100. Depending on your jurisdiction, filing for a DBA can take anywhere between 1 to 4 weeks.
#Things that require ilicense registration
In many cases, you have to go to your county office and pay a registration fee to the county clerk. Procedures to file for a fictitious name vary from state to state. Some states require DBA or fictitious business name filings to be made to protect consumers who do business with the entity. What is a DBA?Ī DBA is the operating name of a company, as opposed to the company’s legal name.
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The easiest way to register your business name is to file for a DBA (Doing Business As). There are three ways you can do this: File a DBA You’re ensuring that no other business can operate using your name. Think of this as identity protection for your restaurant. Once you find the perfect restaurant name, the first thing you should do is get it legally registered and purchase your domain name for your website and claim your social media handles. Thinking of a restaurant name is no easy task. That’s why we’ve put together a list of the 16 licenses and permits you need to open a restaurant the right way and avoid any penalties in the future. Surely you knew you needed a liquor license, but did you know that to open a new restaurant you need dozens of restaurant licenses and permits before you can welcome guests?Īpplying for and acquiring each of these restaurant licenses and permits involves a lot of paperwork and patience, but it’s absolutely necessary.
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Opening a restaurant is a dream come true for owners, managers and chefs alike, but there’s a lot of paperwork that needs to be filled before that dream becomes a reality, specifically, all the licenses and permits needed to open a restaurant and ensure it’s legally compliant.