How to Set Up a DBA in Wyoming
A DBA (Doing Business As) allows individuals and businesses to operate under a different name or expand their brand presence while maintaining legal compliance. In this guide, we’ll walk you through the step-by-step process of setting up your DBA in Wyoming.
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What is a DBA?
A DBA is an acronym for “doing business as,” sometimes known as a fictitious name, trade name, or DBA name, depending on which state you are acquiring, is a state-level name that your company can use to do business under. Or, in simpler terms, a DBA is just another name you can use for your business.
Sole proprietors can benefit significantly from using a DBA because instead of using their name to run their business, they can use a DBA to operate under a different name, which makes your company look more legitimate and trustworthy to future consumers.
If you are thinking about a unique business name for your startup as a sole proprietor, the next step would be DBA filing to make sure the name you thought about could be the legal name for your business. When you register for LLCs, general partnerships, or any type of business entity, acquiring a DBA is an excellent way to start.
How to search DBA names in Wyoming
Now that you know what a DBA is and its benefits, you can start setting it up. One of the first things you need to do when starting a DBA is to develop a catchy name you want to operate under. Your assumed name should be unique because no two businesses can have the same name in Wyoming.
When starting as an entrepreneur, thinking of a name for your business might be the most exciting part. However, choosing the word is crucial, so make sure you choose a name that fits your business and what services you offer. When choosing a relevant business name, make sure you avoid hard-to-pronounce words and select a business name that will allow the growth of your business in the future.
Thought of a name yet? If you have a name in mind, here are the steps to check for their availability:
Go to the Secretary of State website in Wyoming
On the SOS website of Wyoming, you can use their name search tool to verify if the name you had in mind is available. It is a simple and easy-to-use tool. All you need to do is type the name you came up with and wait for the results to determine whether it is available.
Come up with more than one name
There are over 70,000 small businesses in Wyoming, which could increase the odds of finding a company with the same name. If that is the case, it is better to have a list of names ready.
Consider reserving the name
If you spend a lot of time coming up with your unique business name and want to reserve it before you register, you can fill out this form. It will secure the name you want for 120 days, and the filing fee costs $120, whether you are setting up a DBA or an LLC.
Have a name in mind? Check on name availability first here.
How to register a DBA in Wyoming
Now that you have a business name in mind and expectations regarding how much you will need to spend to file a DBA, it is time to register and get your assumed name set up. Setting up a DBA takes around 1 to 2 weeks before they mail you the certificate, and the state of Wyoming does not accept expedited service at the moment.
Here is a step-by-step guide to registering for an assumed name or DBA in Wyoming:
Fill out the Wyoming forms
The first step to getting a DBA in Wyoming is to fill out the Trade Name Form. When filling out these forms, you want to ensure that all the information is accurate and complete. The Secretary of State won’t be able to process them if it is incomplete.
The form is quite simple and easy to fill out. Information requested includes:
- business name
- business address
- the trade name you want to register
- the type of business entity (individual, corporation, general partnership),
- contact information
Submit your form
Once the form is filled out, you can mail the form to the secretary of state office in Wyoming. You can also visit your local county clerk’s office to file these forms, but they will also mail them to the SOS office, which you can do directly once you have printed and filled out the Trade Name Form.
Wait 15 business days to get your trade name certificate
Once you mailed the form with complete information, you will have to allow up to 15 business days for processing. Your registered name certificate will be sent to your address. Once you have it, you can move on to the next step to get your business up and running.
Ready to register your DBA? Fill out these forms.
Cost to get a DBA set up
The DBA cost varies from state to state, but it costs $100 to get a DBA in Wyoming. You cannot pay with a credit card when filing personally or through the mail. You can pay with cash or a money order payable to the Wyoming Secretary of State.
What comes next
After your DBA registration, there are more steps you can take to get your business up and running. You can build a website, hire employees, start manufacturing your products, and get the necessary permits to operate your new business.
Build a website to get your business online
To generate more clients and help more people find your business, you can create a website and take it online. Registering for a domain name with Namecheap will allow you to find out if you can use your business name for your website.
Get your business registered and get all the necessary business permits
Some businesses in Wyoming require the necessary permits to operate legally. You will need to obtain licenses for some services or products you plan on selling; you can check the Wyoming Secretary of State’s Website for the business licenses you might need.
Get an EIN
Many businesses get an EIN, a nine-digit identification number from the IRS. It’s used as a Tax ID and is needed to open business bank accounts, apply for a loan, or hire employees.
If you plan to get an EIN, you can do so on the IRS website.
Who is a DBA best for?
A DBA is best for a sole proprietorship that wants to operate or do business under a different name other than its legal name. For sole proprietors, a DBA allows them to work under an assumed name of your business without having to file or open a separate LLC business structure.
Note that a DBA is different from an LLC. While an LLC is a formal business structure, a DBA is just another name your business can operate under. However, an LLC is a legal entity that can benefit from having a DBA for business growth and creating separate entities within a growing small business.
For example, suppose you already own a small business that sells one thing. In that case, you can also expand and create a separate legal entity with a DBA to differentiate between these two businesses regarding legal protections and liability.
Why would entrepreneurs choose to set up a DBA in Wyoming?
Setting up a DBA instead of an LLC at first has many benefits. A DBA is not another business entity. Instead, it is something that you might need and benefit from when starting a new business. With that in mind, here are some of the benefits of creating a DBA in Wyoming:
- A DBA allows you to apply for an employee identification number or EIN, enabling you to hire employees or freelancers.
- Getting one is the most affordable way to start a legitimate business as a sole proprietor.
- A DBA will allow you to do business using a name other than your name, which also allows you to create a business bank account and start credit lines with an assumed name other than your legal name.
- Getting a DBA is sometimes required by state laws to open a business.
- Companies that already exist can use a DBA to rebrand without changing their original name, whether incorporation or LLC.
- A separate company or trade name is essential for small business owners to start a brand.
- It allows you to separate personal assets from business assets.
- It offers privacy protection since you can do business under a different name.
- A fictitious business name will make your business more legitimate and trustworthy, which is essential for growing your client base.
How do you pick a strong company name?
The name of the business matters. The title should describe your business, be easy to say and understand, and have a certain “stickiness” to it, which is to say it should be memorable. Name generators can help you brainstorm ideas.
Is it necessary to get an EIN in Wyoming?
Even if your business starts small with a DBA, getting an EIN is ideal if you expect your company to grow soon. Getting an employer identification number right now would save you from the trouble of trying to get one in the future when your business is ready to hire employees.
Do you have to live in Wyoming to start an LLC?
Even if you don’t live in Wyoming, you can start an LLC. Residency in the state of Wyoming is not a requirement if you want to set up a limited liability company. However, you will need a point person in your company who resides in the state to manage your business for it to become successful.
Do you have to live in Wyoming to set up a DBA?
Yes. To set up a DBA, you must live in the state to start and manage your small business. Setting up a DBA is simple to do. You’ll check name availability, file forms with the state, and pay a small filing fee.
How to get funding for a DBA in Wyoming?
You can pitch your idea to friends and family members or get financing for your startup through investors and venture capitalists. Services like Ask For Funding and other lenders might be interested in your business, especially if you can convince them how to generate revenue in a given time frame.
What do you need to start a business in Wyoming?
To start a business in Wyoming, you will need to start with an idea. According to the economic trends, the biggest industries in Wyoming are oil drilling, gas extraction, and petroleum refilling. With these facts, you can start thinking of an idea for a business. Once you have an idea, you can create a business plan, get capital funding, set up a DBA, or choose the business entity of your choice.
Find out how to set up your DBA
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