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Level 1

Operating name changed

Hello,

The main company changed its industry, which result in the change of operating company name. In this case, should I make another G125 (i.e. #125-1 for previous company name and previous year F/S), #125-2(current company operating name with the current F/S)) to compare it with the previous year? Otherwise, is it okay to use a same G125 to compare previous and current F/S because of the same Business number and same legal business name? 

Thank you!

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Best answer a month ago

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ProFile Team

Operating name changed

Hi, thank you for using Intuit ProFile Community

Did you contact Canada Revenue Agency (CRA):

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/changes-your-business/change-...

Since you have to notify CRA of an operating name change, I would also consult them regarding required books, records and T2 filing

Hope this helps



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2 Comments 2
Highlighted
ProFile Team

Operating name changed

Hi, thank you for using Intuit ProFile Community

Did you contact Canada Revenue Agency (CRA):

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/changes-your-business/change-...

Since you have to notify CRA of an operating name change, I would also consult them regarding required books, records and T2 filing

Hope this helps



View solution in original post

Highlighted
Level 1

Operating name changed

Thank you for your reply.  Yes, it was already notified to CRA, however, I am confused to record S125 technically :)  Which one you recommend me separate S125 or same S125.... ?