Title: South Dakota Proposal to Amend Certificate of Incorporation to Change Corporate Name: A Comprehensive Description Introduction: In South Dakota, a Proposal to Amend Certificate of Incorporation allows registered corporations to change their existing corporate name. This detailed description provides an overview of the process, requirements, and key information associated with this crucial amendment. 1. Background: The Proposal to Amend Certificate of Incorporation serves as a legal document that enables a corporation to change its corporate name in South Dakota. This amendment is important for businesses aiming to redefine their brand identity, adapt to evolving markets, or reflect a change in the company's mission and values. 2. Process of Filing: a. Submission: To commence the process, the corporation must draft a formal proposal to amend the existing certificate of incorporation. This proposal should clearly specify the desired new corporate name, ensuring compliance with relevant regulations. b. Documentation: Along with the proposal, corporations must prepare updated Articles of Amendment. These documents outline the specifics of the name change, including the original corporate name, new proposed name, and the corresponding section of the certificate being modified. c. Submission Channels: Corporations can submit the proposal and accompanying documents to the South Dakota Secretary of State's office via online portals or by mail, ensuring payment of the required processing fees. 3. Key Points to Consider: a. Name Availability: Prior to filing the proposal, it is crucial to perform a thorough name availability search on the South Dakota Secretary of State's website. This ensures that the desired name change is unique and not already in use. b. Legal Conformity: The proposed new corporate name must comply with South Dakota naming regulations, including avoiding restricted terms or language that could potentially mislead or deceive the public. c. Board Approval: The board of directors must approve the proposal through a formal resolution. This resolution should be recorded in the corporate minutes to demonstrate the decision-making process. d. Shareholder Consent: Depending on the corporation's bylaws and the nature of the name change, obtaining the consent of shareholders may be necessary. The specific requirements for shareholder approval can vary, so it is important to consult legal counsel during the process. 4. Administer
South Dakota Proposal to amend certificate of incorporation to change corporate name
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Like Alaska, South Dakota does not have state income tax. Along with no state income tax, South Dakota also has a 0% corporate tax rate, making it a great place to start an LLC that is taxed as a corporation. Advantages of South Dakota: No state income tax.
The first step is to file a form called the Amended Articles of Organization with the Secretary of State and wait for it to be approved. This is how you officially change your LLC name in South Dakota. The filing fee for the Amended Articles of Organization in South Dakota is $60.
Corporations, partnerships, associations, cooperatives, and limited liability companies that are conducting business in South Dakota under any name other than their corporate name are also required to file each fictitious name under which they may conduct business (See SDCL 37-11 and 2-14-2).
If a South Dakota LLC decides to change its business name, it has to go through a legal process. Your company has to submit an amendment with the Secretary of State. After this, you will also have to update all the records of your company with the government.
Depending on the state in which the business is incorporated, unanimous agreement from all the shareholders may be required to change the articles of incorporation. Most states have changed this older, common law rule, and now only require a majority of shareholders to agree to change the articles of incorporation.
File a Cancellation of a DBA - Business Name online by entering the required information. No fee is required to complete the online process for cancellation. Search the DBA - Business Name database by name or owner. You can also print a Registration Confirmation.
How do you dissolve/terminate a South Dakota Limited Liability Company? To dissolve/terminate your domestic LLC in South Dakota, you must submit the completed Articles of Termination form to the South Dakota Secretary of State by mail or in person and in duplicate along with the filing fee.