DBAs are a common way for small businesses to brand themselves and create marketing continuity. They’re also often required to open a bank account or get listed on helpful directories like Google and Yelp. The process for filing varies from state to state and city to city, but it’s typically relatively easy. It’s important to note that DBAs are not legal entity and they don’t shield your personal assets if your business gets sued. They simply allow you to operate a business under a different name than your formal legal name, which must be used on official government forms and in property lease agreements. So, do you need to list your DBA on W9 in Bernalillo?
Where Should I Put DBA name on W9?
DBA filings can be complicated and vary from state to state. Some require a fee, while others may need to be notarized and published in a local newspaper. In addition, it is important to remember that DBAs must be renewed after a certain amount of time. It is also a good idea to keep track of the renewal date, as failure to do so can result in fines from your state’s regulatory agency.
The W-9 is a form that employers or contractors fill out to give to people paying them. It contains the name, address, and tax ID number of the person being paid. This information is then used to prepare a 1099 at the end of the year.
The name on the W-9 should match the name on the person’s individual tax return. In Bernalillo, if a person has a business, trade, or DBA name, it should also be entered on W9. The address on the W-9 should match the address the IRS has on file for the TIN, which may or may not be the same as the person’s billing address.
If the person is a sole proprietor, they should enter their Social Security Number on line 1. If the person is a partnership or C corporation or S corporation, they should enter the entity’s EIN in box 2. If the person is exempt from backup withholding, they should check the appropriate box and enter an explanation of the exemption in box 3. Then, they must sign the form and have it notarized.
