Business Name Filing Document Sole Proprietorship

If you operate under a registered business name bill your clients and customers in the business s name.

Business name filing document sole proprietorship. Business license if a business name filing document was not filed documents must have proof of filing from the state or county. You must choose an original name. A sole proprietorship is a business run by an executive owner.

Sole proprietors self employed individuals report all business income and expenses on their individual tax returns. In addition in many states if your business name falsely implies that more than one owner is involved you must file a fictitious business name statement. If you operate as an individual just bill your customers or clients in your own name.

Sole proprietor businesses do not have to file with a state but you still should notify your state s taxing entity of the new name for income tax filing purposes. The owner is liable for all business operations. If jason todd were a sole proprietor for example and named his business jason todd and sons or jason todd associates he would probably have to file an fbn statement even though he included his last name in his business name.

This rule differs for sole proprietorships and general partnerships. We can help get you started today. However at any time the sole proprietor hires an employee or needs to file an excise or pension plan tax return the sole proprietor will need an ein for the business and can t use his or her social security number.

If your business has a name other than your own you ll need a separate bank account to process cheques payable to. A legal name is the name under which your business incorporated in new york state. It cannot already be claimed by another business.

If you are a sole proprietor you pay personal income tax on the net income generated by your business. If you choose to operate under a name different than your own you will most likely have to file a fictitious name also known as an assumed name trade name or dba name short for doing business as. But you can choose operate the business under another name known as a fictitious business name or doing business as dba.