Full question:
How can we take my husband's name off of our business, and replace it with mine. We want to do this in order to attain a minority ownership status which will allow us to seek business with specific entities. It is our hope to have my name replace his as the Sole Proprietor without having to actually sell the company in order to accomplish. We want to know the quickest and most efficient way to accomplish this.
- Category: Small Business
- Date:
- State: Maryland
Answer:
The name of a sole proprietorship is registered with state and local offices, listing the owners involved. In some cases an amendment of the form may be filed, in other cases, a new registration may be filed. The procedures for registering a "fictitious name" for a sole proprietorship or partnership vary by state. In some cases, the small business owner simply fills out a form—known as a "doing business as" form or DBA—available at its city or county offices, has the form notarized, and pays a registration fee ranging from $10 to $100. The fee for registering a name in Maryland is $25. In other cases, the small business owner is required to print a legal notice announcing the fictitious name in a local newspaper. There may be local requirements that apply, you may call the clerk at city hall to inquire about municipal licensing requirements.
Please see the following regarding registering a trade name with the state:
The fee is $25.00. Checks should be payable to: DEPARTMENT OF ASSESSMENTS AND TAXATION
Filings submitted in person at the Charter Division office and processed on a while-you-wait basis, as well as filings by fax are subject to an additional $50.00 surcharge for Expedited Service. Visit our web page to view our fee schedule and a list of all service fees at http://www.dat.state.md.us/sdatweb/fees.html.
Mail the completed form and check to: Charter Division
Department of Assessments and Taxation
301 W. Preston Street, Room 801
Baltimore, Maryland 21201
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.