TKK Posted December 14, 2014 Share Posted December 14, 2014 Ive been wanting to change my business name for a while. I know ill need new logo, stickers, magnets, website, but what happens with my legal stuff? Bank account, ein, assumed name, tax id etc? Would i pay off all taxes etc and then do it? Or does it stay with my ein? I must add i want to make it an llc as i have it sole. When would be a good time? January 1st? Link to comment Share on other sites More sharing options...
AZVendor Posted December 15, 2014 Share Posted December 15, 2014 January first is the best time to do it as sole proprietor entities are on a calendar year tax year. You can then elect to have a calendar year LLC tax year too. Your EIN stays with you and that is your tax ID. You will need the LLC in place before you change your bank account. You will probably have to close the current bank account and open a new one. After you put the LLC in place then you can change your trade name with the state. You might have a few fees associated with a name change on your sales tax accounts. Don't forget to change this with your insurance company as well. Link to comment Share on other sites More sharing options...
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