Saturday, 28 May 2016

Operating under a trade name.

 

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Hello everyone, I have a question that I can't seem to find the answer to. If this is relevant, it's for a Canadian corporation. I have a registered Corporation, where the name has the word 'aerospace' in it. I am currently not operating in the aerospace sector(name was registered years ago with the idea I would get into it a lot quicker). Due to the word 'aerospace' in the name of the business, insurance will be through the roof, so I thought I would operate under a trade name until I am ready to enter that market.

My question: if I go under a tradename, can I get insurance just for the tradename and the activities performed under it, or does it have to be for the Corporation name (which will then cover the activities of all related trade names)? Also, are taxes filed under the Corporation name or the trade name?

Any info you can provide would be super-helpful, this is difficult to research.

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