Business Bureau FAQ
The following are questions commonly asked by individuals
who are considering doing business in Montana.
Q. Do I have to register my business name with the Secretary of State's
Office if I'm conducting business under my own name?
A. No, under state law you do not need to register your
business name if you plan to transact business under your own full legal name.
Q. Does filing an Application for Registration of an Assumed Business Name
protect the name so that no one else may use it?
A. When you file the application, the Secretary of
State's Office will search its database to make sure no other registered
business in Montana is using that name. If the name is unclaimed, the Secretary
of State's Office will issue you a certificate giving you exclusive legal
right to use the name for five years. At the end of five years, you must renew
your registration.
Q. What are the benefits of incorporating?
A. These vary depending on the individual business. The
Secretary of State's Office recommends that you consult an attorney or
accountant to determine which type of business structure best suits your needs.
For more information, also see Organizational
Structures.
Q. What is the difference between a for-profit and a nonprofit corporation?
A. The primary difference is that a for-profit corporation
has shareholders who "own" the business and share in the profits. Nonprofit
corporations do not have shareholders. They must reinvest their earnings in the
business or use them to benefit the public.
Q. How do I change my registered office and registered agent?
A. File a Statement of Change form with the Secretary of
State's Office.
Q. What is the difference between a "foreign" business and a
"domestic" business?
A. For most people, the word "foreign" conjures images
of Japan, Europe, or Canada. However, for business purposes, the term means
"not a Montana" entity. If you formed your business in another state or
country, you are considered a "foreign" entity. If you incorporated or filed
your original registration in Montana, you are a "domestic" entity.
Q. If I'm a "foreign" business, do I have to register with the state
of Montana?
A. If you have an office and employees in Montana and are
paying payroll or income taxes, you need to file an Application for Certificate
of Authority with the Secretary of State's Office.
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