Do you have the perfect name idea for a new business entity in the state of South Dakota, but you’re not quite ready to form your company?
South Dakota allows you to reserve a business name until you’re prepared for the business formation process, but how does the reservation process work and how long will the state reserve the name for you? In this guide, we’ll run down all the important details of reserving a business name in South Dakota.
Rocket Tip: If you’d rather officially incorporate in South Dakota rather than file the extra paperwork to register a business name, there are many good incorporation services that can do it for you.
How to Reserve a Business Name in South Dakota
The first step is to determine if your desired business name is even available in South Dakota to begin with. South Dakota makes it easy to check the availability of a business name via the state business information search. Simply search for your desired name to see if any other business is currently using it. Once you’ve determined the availability of your desired name, you can begin the process of reserving it with the state.
In order to reserve your business name, you will need to submit the Application for Reservation of Name form (for Limited Liability Companies) to the Secretary of State. This form requires the following information: Secretary of State Office 500 E Capitol Ave
Pierre, SD 57501
In addition to the completed form, you must also include a $25 check made payable to the “Secretary of State.” Then, you can mail the form and check to this address:
How Long Is My Business Name Reserved For?
Once the Secretary of State has approved your name reservation application, your name will be reserved for a period of 120 days. You will need to register your business with the state during this period. If you want to extend the name reservation, you must wait 60 days after the name reservation has expired before filing a new application. You will need to file the same paperwork again and pay an additional $25 filing fee.
Conclusion
Just because you aren’t ready to form your South Dakota business entity doesn’t mean you can’t lock down your desired business name.
Though name reservations are not available online in South Dakota, the process to reserve a business name is still relatively simple. If you have a name in mind, there is no reason to delay reserving it prior to registering your business.