LLC Name Examples
A company’s name is one of the first things consumers see, so it’s important to choose a name that stands out and is memorable. Choosing the right LLC name can help your business stand out among competitors and make it easier for customers to trust you.
The right name can also protect your personal assets from lawsuits and tax liabilities. There are a few rules to keep in mind when naming your LLC, so be sure to read up on them.
Types of companies that use LLCs
Business owners choose LLCs for a variety of reasons. For one, an LLC creates a safe distance between the business and its owners’ personal assets. This can help protect an entrepreneur’s home or individual bank account from debt and liability claims.
Owners can also determine how profits are split between members of an LLC, rather than having the company do it for them. This can be helpful if one member invests more money upfront or puts in more sweat equity than others.
Unlike a general partnership, where all partners must share profits equally, an LLC can allow each member to decide how they want their profit divided by whatever terms are specified in their operating agreement.
LLCs have many advantages over traditional business structures such as partnerships and corporations. However, they are not ideal for all types of businesses. For example, they are not suitable for a corporation that requires significant outside investment. In addition, they can be difficult to transfer from one owner to another.
Types of companies that use C-Corporations
C corporations are one of the most popular types of business entities. They offer limited liability protection and are able to raise capital by selling shares of stock to investors.
However, they do have some drawbacks. Corporations must file articles of incorporation with the IRS, and they must follow certain tax and regulatory requirements.
For example, they must hold annual meetings for shareholders and board directors. They must also pay income, payroll, unemployment, and disability taxes.
A big advantage of a C corporation is the ability to deduct contributions to eligible charitable organizations from your company’s taxable income. These donations can exceed 10% of your taxable income, and you can carry them over into the next five years.
Additionally, corporations can deduct the costs of employee benefits like health insurance and retirement plans. This can be a huge benefit to a business that wants to make sure all employees receive these benefits without being taxed on them.
Rules for naming an LLC
Choosing the right name for your LLC can be difficult. You need a name that makes an impact with your target audience and sets you apart from your competition. You also need a name that meets state and federal naming requirements.
Legally, your LLC can’t have the same name as another business entity in your state or a trademarked phrase. This is why it’s important to check your proposed name before filing paperwork.
You can check for availability by searching through your Secretary of State’s website. However, this doesn’t guarantee that your chosen name is unique across the country.
Restrictions – The name of your LLC cannot include the words “Corporation,” “Incorporated,” or “Corp.” anywhere in it. You also cannot use any abbreviations for these names.
A good LLC name should be memorable and social media-friendly. It should also make an impression when someone sees it on a business sign or in a commercial. Using alliteration and other creative words is also recommended.
Sample LLC names
When forming an LLC, you’ll need to choose a name for your business. It should be unique, legal, and not misleading. It should also be memorable, so that customers can easily remember your company’s name and find your business online.
Most states have a list of required words and abbreviations to include in your business name. These include “Limited Liability Company” or “LLC,” the abbreviations “L.L.C.” or “LLC,” and the word or phrase “limited liability.”
Some states allow you to use other words to indicate that your business is organized for a particular purpose, like “government,” “township,” or “federal.” Others do not. For example, you cannot include words that falsely imply your business is a corporation, bank, or insurance company.
It’s also important to avoid names that are too similar to other businesses, as this will make your LLC name difficult to distinguish from all other business names. You can do this by running a search in your state’s business name database before you file your articles of incorporation or certificate of organization.