Trade Name application and LLC

4 Replies

Hello Bigger Pockets Family,

I am really excited and inquisitive about my business. I am trying to complete the application for Trade Name and on question #4 its asking me, Do I have a personal property account ( " L " number) and if no it's directing me to complete an annual personal property with the State of Maryland Assessments and Taxation Department and I have no property to report at this time. Also I went to the IRS website to obtain and EIN number and it reported that If I file for and EIN then I can't obtain and LLC for my business. I am confused, can anyone give me some correct advice?

LaRaye Alderman

@LaRaye Alderman I'm confused about what you are trying to do. Are you setting up a trade name? Or an LLC? You would typically use a trade name if you are a sole proprietorship and don't want to do business as your name. The LLC is the logical next step. If you are setting up an LLC, why wouldn't you just name it what you want and not need a trade name? The EIN is the tax ID for an existing LLC. Once you create the LLC get an EIN.

I'm not sure I understood your post correctly so feel free to clarify if I did not.

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Good evening family,

I would like to thank you Bryan and yes the information was helpful. I did create the LLC and the EIN number. Thank you also, Angela for the link, I really appreciate it.