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Business trade name registration

by Jeepfreak81
5 replies
I apologize if this has been covered here recently, I searched but didn't find much.

Anyway, I'm at the point in my IM experience where I'm going to make this work with one method or another. SO, I'm thinking I need to pick some type of business name so I can open a bank account, link it to paypal, etc etc.

I have only 1 website at the moment with a domain name - JBMotorcycle, but this won't be my only source of income, so I hate to register that as a name. I'd like to be able to have one business name and be able to connect that to a couple of income streams online. Is this a common way to do it?

Also, my primary interest right now is building my niche content site and adding an E-store to it where I will sell a small assortment of drop shipped product. I may then expand into an e-book in the same niche.

Should I be looking to create a business name like - Jason's Biz (or some other really broad name). Should I also be registering that name in my state as a trade name?

What's everyone else doing in these instances? Thanks in advance for any and all replies, have gotten some good info here over the past couple weeks!
#business #registration #trade
  • Profile picture of the author Mark Alan
    You’re mixing several different things. Trademarks are registered with the federal government. DBA’s are typically registered at county level government. Business entities (Corporations, LLCs and such) which sounds like what you are talking about are registered/created at the state government level.

    If you intend to operate as a sole proprietor under a trade name you will need a DBA filing to open your accounts. If you want to operate as a business entity you will need to go to your Secretary of State’s office to see about setting up one of those. If you operate as an entity you will also need an EIN from the IRS to open the bank accounts.


    Originally Posted by Jeepfreak81 View Post

    I apologize if this has been covered here recently, I searched but didn't find much.

    Anyway, I'm at the point in my IM experience where I'm going to make this work with one method or another. SO, I'm thinking I need to pick some type of business name so I can open a bank account, link it to paypal, etc etc.

    I have only 1 website at the moment with a domain name - JBMotorcycle, but this won't be my only source of income, so I hate to register that as a name. I'd like to be able to have one business name and be able to connect that to a couple of income streams online. Is this a common way to do it?

    Also, my primary interest right now is building my niche content site and adding an E-store to it where I will sell a small assortment of drop shipped product. I may then expand into an e-book in the same niche.

    Should I be looking to create a business name like - Jason's Biz (or some other really broad name). Should I also be registering that name in my state as a trade name?

    What's everyone else doing in these instances? Thanks in advance for any and all replies, have gotten some good info here over the past couple weeks!
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  • Profile picture of the author Jeepfreak81
    Ya, not really worried about trademarks. I just want to be able to do business online without tying it to my personal accounts. I'm thinking a registered business name with the state (which I've done before, $50 in NH) then I can get a bank account and tie everything in that way. However, it would be a DBA at this point because I'd be registering it as a Sole Proprietorship. So essentially - Joe Schmoe DBA Joe's Marketing

    Just curious how other people have things setup, and what seems to be the best/safest method to get started. IF things get going good down the line I'd probably get with an accountant or lawyer and go LLC
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  • Profile picture of the author RecessionPROOF
    Depends on how serious you are about starting your business. You can start with a DBA which is the least costly, but doesn't protect you in the same way as an LLC, or S-Corporation, so it depends on your business and what kind of liability you might have. You can ramp up to corp. at any time, so unless you are willing to spend several hundred for corp., go with DBA, costs next to nothing.
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    • Profile picture of the author Mark Alan
      LLC’s are the best of both worlds really next to no cost just the registration fee. The forms are very simple and they are very uncomplicated to manage.

      Originally Posted by RecessionPROOF View Post

      Depends on how serious you are about starting your business. You can start with a DBA which is the least costly, but doesn't protect you in the same way as an LLC, or S-Corporation, so it depends on your business and what kind of liability you might have. You can ramp up to corp. at any time, so unless you are willing to spend several hundred for corp., go with DBA, costs next to nothing.
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  • Profile picture of the author MNext
    Banned
    Having a registered company would also help in getting fund and privilege from Gov. so this is really good thing if you register a company name but the law is different according to location, states, countries etc.
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