Minneapolis, MN asked in Business Formation and Business Law for Illinois

Q: Can I change the name of my current LLC and later reopen a new LLC with my current name?

Can I change the name of my current LLC and later reopen a new LLC with my current name? Or would the name be unavailable? Example: changing my current LLC named "Blue" (that sells clothes) into a new name "red" (and be a completely different business model). In a couple years when I am ready for a clothing business again, reopen an LLC titled "blue" and continue again. Can I do this?

1 Lawyer Answer
Joseph B. LaRocco
Joseph B. LaRocco
PREMIUM
Answered

A: The simple answer is "Yes", as long as that name is still available and no one else has taken it. Once you change the name from Red to Blue, the name Red will be available and someone else might take it. Some states allow you to reserve a company name for a fee. For instance, Delaware allows you to reserve a name for 120 days by paying a fee of $75.00. Nevada it is $25 for 90 days.

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