The Process to Change a Company Name
Sometimes the first piece of information a consumer has about a business is the business name. If a business name fails to attract new consumers, change it. The process requires several steps, which must be executed by an authorized representative of the company.
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Name Availability
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A business owner seeking to change a company name must meet eligibility requirements under state law. The new company name must distinguish the business from competitors, and it cannot already be in existence. A business owner can check if a business name is in existence by visiting the website of his state's secretary of state. Once at the website, navigate to the corporation and business entity search page, where you can enter the proposed business name and check it's available for usage.
State Government
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A business owner must register the new name with the state government in which the business operates. Visit the secretary of state's website to download an application to register the new name. State applications vary, as do required fees. Include your existing business name, employer identification number, business address, dedicated business telephone number and proposed business name.
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Federal Government
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Business name changes must be sent to the Internal Revenue Service. Only authorized individuals can send business name changes to the IRS.
The owner of a sole proprietorship must send a notification, informing the Internal Revenue Service of the name change, to the address where the proprietorship files its tax returns.
The corporate officer of a corporation must mark the appropriate name change box on Form 1120 of the current filing year. Options include box three of Form 1020 or box two of Form 1120S. If the corporation has already filed a tax return, the corporate officer can submit a written notification to the IRS at the address where the corporation's taxes were filed.
In the case of a partnership, a partner of a business notifies the IRS by marking box three on Form 1065. If a tax return has already been filed, a partner of the business can write to the IRS at the address where the tax return was filed.
Partnerships and corporations must provide the IRS with a copy of the Articles of Amendment that were filed with the state that authorized the name change.
Employer Identification Number
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According to IRS Publication 1635, a business owner does not need to apply for a new employer identification number if the business name changes.
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