If you're running a business in Tennessee, you may at some point need to change your business name. Perhaps you've rebranded, pivoted your focus or just don't feel like your current name reflects what you do. Whatever the reason, it's important to know how to change your business name properly in order to avoid any legal or logistical roadblocks.
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In this article, we'll walk you through the steps required by the state of Tennessee in order to change a business name.
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Step 1: Check the Name Availability
Before you can change your business name, you need to make sure the new name you want is available. This means that no other company in Tennessee is already using that name. You can check for name availability by searching the Tennessee Secretary of State database.
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It's important to note that if you operate your business as a sole proprietorship and don't have a registered business name, you still need to search the state database. This is because you still need to make sure the name you want to start using isn't already being used by another sole proprietorship or business.
Step 2: File Form SS-4418
Once you've determined that the name you want to use is available, you need to file a form with the Tennessee Secretary of State's office called the SS-4418. This form is called the "Application for Reservation or for Renewal of Reservation of Reserved Name" and it can be filed online via online filing system or by mail.
This form reserves your new business name with the state for up to 4 months. This gives you time to file the necessary paperwork to officially change your business name.
Step 3: Amend the Articles of Incorporation or Articles of Organization
The next step is to amend either your Articles of Incorporation (if you're a corporation) or your Articles of Organization (if you're an LLC) with the new business name. You need to file the appropriate form with the Secretary of State's office that shows the amendment to your Articles.
You'll need to provide certain information, such as:
* The current business name
* The new business name
* The reason for the amendment
Once the Secretary of State approves the amendment, you'll officially be able to do business under the new name.
Step 4: Notify Government Agencies and Customers
Once the state has approved your new business name, you need to make sure everyone knows about it. Make sure to update all your company documentation, company website and any customers about the change of business name.
Here are a few people you'll need to inform:
IRS
If you have an Employer Identification Number (EIN), make sure to inform the IRS about the new business name.
State and Local Government Entities
Notify Tennessee Department of Revenue, state tax authorities and local licensing agencies to ensure that no tax or regulatory filings goes bypassed.
Notify Clients and Vendors
It’s important that your key client/buyers be informed of the re-branding initiative at the onset; while keeping vendors and physically located promos need correction as well.
Conclusion
Changing your business name in Tennessee is a relatively straightforward process, but it's essential to follow the proper legal steps to avoid running into issues down the road. By performing due diligence with regard to name availability and filing the necessary forms, you can quickly and easily update your business’s identity while still maintaining its operational momentum. By notifying the necessary agencies and business partners, you can helps minimizing confusion and streamline communication during this time of rebranding.
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