If you run a business under an assumed name in Wyoming, you may want to set up a DBA. Short for “Doing Business As,” a DBA serves as an alternate title for your business. Often, a DBA is the name customers will use to refer to your company. In this guide, we’ll cover everything you need to know about DBAs: who needs one, who doesn’t, and two easy steps to filing with the state.
In Wyoming, the DBA is actually called a “Trade Name.” Essentially, they’re the same concept. “Trade Name” is just the terminology used by the state. For consistency, we’ll call it a Trade Name throughout the rest of this guide.
NOTE: Keep in mind that filing a trade name will not give your business protection through the corporate veil like an LLC will. If this is something you want or need, don’t fret, there are many good LLC services (like LegalZoom and Zen Business) that can help you take care of the paperwork.
Do You Need a Wyoming Trade Name?
Not all business entities in Wyoming need a Trade Name. Ordinarily, a business needs a Trade Name when the name of their business differs from the name registered with the state.
So let’s say that Lauren operates a sole proprietorship; her legal business formation documents list her full name as the legal owner of the business. But if she wants to run her shop under the name Sew Sweet Creations, she’d need to file a Trade Name in order to use that name. A Trade Name is also useful for corporations which want to establish additional businesses or locations with a name that’s different from the Corporation name.
Limited liability companies, nonprofit corporations, and corporations operating exclusively under the name on file with the state usually do not need a Trade Name. They may choose to use one if they want to establish a new product line or chain of businesses under their original parent company.
A Wyoming Trade Name does present a few advantages. While it doesn’t offer any specific legal protections or tax incentives, a Trade Name allows you to get a business bank account. You can also give your customers peace of mind—most people are more comfortable writing a check to a business than an individual.
In Wyoming, you must actually use your Trade Name in conjunction with your business prior to registering it. However, if you’re not actually conducting business yet but you’ve picked a name, you could file an Application for Reservation of Trade Name. The remainder of this guide will cover how to register your Trade Name.
1) File Your Trade Name with the Wyoming Secretary of State
Wyoming businesses wanting to use a Trade Name can register it with the Secretary of State. Before you do that, however, you must have already used the name in the state. In addition, your Trade Name must be available in the state.
Wyoming law states that your name must be distinguishable from other entity names. To make sure your name is distinguishable, you should run a Business Search. Simply type your desired business name into the tool; if no exact matches appear, then it’s likely your name is still available. If there is an exact match, you’ll need to make a few tweaks to make the name unique.
Next, you’ll need to complete an Application for Registration of Name. This form includes important information about your business, including your contact information, the business address where the Trade Name will be used, the date you first used the name, and of course, the name you wish to reserve.
There is a $100 filing fee for this application. You can pay by check made payable to the Secretary of State. You’ll need to file a paper form because you must sign before a notary.
2) Maintaining your Wyoming Trade Name
Your Trade Name registration is valid for ten years. After that, if you need to keep using your name, you should file a renewal. The form is fairly similar to the initial registration, but the fee is $50.
Similarly, if you ever need to transfer your name to someone else or stop using it, you should file a transfer or a cancellation. Essentially, these forms help keep the state and consumers aware of what businesses are operating in the state. You can find all the forms for Trade Names here.
Need Help Filing your Trade Name?
If this process sounds like a hassle, you can get help with setting up your business’s name with a service like Legalzoom. They make the process simple: you simply provide them with the necessary information about your company, and they’ll fill out the paperwork so you don’t have to. The process is both easy and affordable, letting you focus on running your business.
Conclusion
Your name is an important part of your business, but keeping compliant with state requirements can be tricky! We hope this guide made it quick and easy to set up your Wyoming Trade Name.