Operating Multiple Businesses Under One LLC

There are 14 comments left for Can I Operate Multiple Businesses Under One LLC?

Does a LLC and A DBA require two separate EIN numbers?

When you apply for an EIN, there is a line on the application for a DBA, so you can name your DBA and your LLC on the same form, thereby only needing one EIN number.

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Thank you so much! We appreciate the compliment!

Hi, what is the procedure of combining two or three different businesses?

Typically, a DBA is set up with the state and/or county that you are operating out of. Before setting up the DBA, your home jurisdiction may require you to foreign qualify there, if you have not done so already. We are not able to file the DBA, but we are more than happy to assist with the foreign qualification.

Your business is considered domestic to the state where formed, and foreign in all other States.  To take advantage of the strong corporate law structure, Delaware is by far the most popular domestic choice.

If your business will have a physical presence by operating, hiring employees, banking or even holding an asset in a state other than its state of incorporation, clients will often qualify the business to operate in that state.

The foreign qualification process enables a company to transact business in a jurisdiction other than where it was formed.  By failing to comply with local compliance issues, you may be putting the protection of your company at risk.

For further information on the DBA visit https://www.delawareinc.com/blog/dba-or-doing-business-as/

For more information on the foreign qualification process https://www.delawareinc.com/blog/what-is-foreign-qualification/

I own parts of 4 restaurants, all S-Corps. Core partners are the same but a couple have additional ones. I am not listed as an officer in any of them. Should I force the issue? Does it impact my tax benefits? Or is my tax status affected for my umbrella LLC just formed now by me as only member affected at all? I will likely add equity positions in other industries over time under the umbrella LLC.

Thanks for reading our blog. Unfortunately, we can't answer your questions as they are out of our realm of experience. A tax professional and/or a lawyer would be better suited to help you.

Is this not the whole point of Series LLCs? Has the status been clarified at all when it comes to tax treatment, and filing requirements when operating in other states notably MA?

The Series LLC is treated as a single entity that can have different series or classes internally in the LLC. Each series can hold its own assets, have its own members and conduct its own operations yet remain insulated from claims of members, creditors or litigants pursuing the assets of, or asserting claims against, another series. Typically, each series is considered a separate entity for the purposes concerning the federal taxation of the entity. Many accountants or tax professionals are still not familiar with the structure adding to the many uncertainties that make it difficult to actually utilize a series LLC

If physically operating the Delaware Series LLC in MA, people typically qualify the entity there as a foreign LLC. The entire process to qualify the Delaware Series LLC there only takes a couple of business days on average.