Hello Solidus, by multi-branding company, do you mean a company that carries out several different business activities (with different DBA names)? If so, your question seems to be whether or not you should form an LLC or a corporation (Note: Corp, C-Corp, and Inc all refer to a corporation or entity taxed as a C corporation). Can I move an existing DBA to the new LLC? Or should I create a new DBA to “move” the photography business under the LLC umbrella and open new bank accounts? Whether you`re developing, restructuring, or taking on a completely different segment or area of interest, there are several ways to structure your LLC. 2.) In Georgia, trade names are not filed with the Secretary of State at the state level. Instead, they are filed at the county level with the Superior Court Clerk`s Office (in the county(ies) where you do business or where the property is located). You must contact the clerk of the Superior Court in your district. See Registrars of the Superior Court of Georgia: Find My Clerk. The assets and revenues that are part of your editorial activity are also exposed to any legal claims that may be made against your dog walking business as a result of the incident. In this scenario, businesses can be run as if they were separate businesses (with the ability to accept checks issued in their specific name). Meanwhile, the business owner benefits from simplified business compliance requirements because only one business unit (and one EIN) must be managed. The tax period also remains relatively simple. The business owner reports the income of the LLC and all DBAs that are part of it through a single tax return under the main LLC. This scenario is common in some situations. First of all, for companies that want to acquire or possibly separate from one of their companies.
Second, for established businesses that want to start a new business (and the incumbent will fund the new business). As expected, this scenario can have complex tax and legal implications – and it`s best to consult with a tax advisor or lawyer on how best to structure a holding company and subsidiaries. A DTA will not separate or protect the LLC from the debts and obligations of other business units. Note that a parent company LLC and its subsidiaries do not completely isolate business owners from any liability. When a parent LLC is sued, all assets of that LLC, including the assets of its subsidiaries, are at risk. In addition, a business owner`s personal assets are at risk if someone sues the owner for personal negligence or because that owner has personally secured a business loan on which the LLC has defaulted. Hi Brian, no, you don`t have to form a new LLC for that. An LLC can operate two commercial sites (or dozens; there is no limit). One thing to keep in mind when considering buying buildings where your LLC does business, you may want to form a new LLC for it. This separates and isolates the adhesion. And in this example, the LLC that owns the building would lease the building to your other LLC. I hope that helps.
Thank you for your invaluable help. I want to pass it on to you because I want to make sure the thing is set up correctly (I live in Florida). Example. Robbie Enterprises, LLC One of my companies is to help small businesses set up business loans and secure business financing (example. Robbie Business Credit & Financing), and the other one I`d like to start later is for RE Investment Properties (example. Robbie Investment Properties). If tax time approaches, all you have to do is file a tax return for both companies, as the DTA falls under the Joyful Pet Grooming, LLC. Hi Kyle, you can close S-Corp in California to save on insurance and labor costs.
And yes, you can create a DBA owned by your Nevada entity (with a name similar to ca S-Corp). Depending on the type of services provided to CA, the company could be considered operating in Nevada, California, and then operate as a foreign agent to do business in California. Hi Tori, in this case, the first DBA is just a DBA for you as a sole proprietorship. To reverse it, you would test your business idea by operating as a sole proprietorship. The sole proprietorship may have a DBA name, but it is not obliged to do so. I guess you`d rather not spend the money on the LLC until you know the company is a good idea? More commonly used for real estate due to the protection of liability between individual properties; Property A is separate from property B and so on, it can also be used to house multiple businesses. Does the invoice have to be under 1 company name, which is the LLC? I hope you can help me with this, thank you in advance. This scenario can be attractive if a business owner wants to sell a business unit or create a spin-off of one of their businesses. It can also be beneficial for an established business that wants to fund the creation of a new business. You can have 1 bank account (and deposit money paid to both JuMac Candies LLC and Diamond Kutt Kisses) or you can open a separate bank account for Diamond Kutt Kisses (which can make finances, accounting, and taxes easier).
However, keep in mind that the two bank accounts are just one legal entity (your LLC) with two bank accounts. And overall, it`s a legal entity (your LLC) that does business. JuMac Candies LLC is involved in the candy business and JuMac Candies LLC is involved in the cosmetics industry under the adopted name Diamond Kutt Kisses. I hope this 🙂 So I have two stores that I have under an L.L.C. but how can I do it? Would you have your first L.L.C. company name and say the name of your next company on the same line? It is common for a company to advertise and operate under names other than its legal name. DBA stands for “doing business like”. In Florida, a DBA is also called a fictitious name.
Hi Heather, no, it would be a multi-member LLC. However, it seems that it is more important to both work with the same brand name. What you can do is form your own LLC and both LLCs register the same DBA name. For example, you own Heather Studios LLC and your friend owns Sally Studios LLC. Heather Studios LLC and Sally Studios LLC both recorded a DBA called Raleigh Yoga Studios. This way, both LLCs can do business under the same name. Typically, the role of the main LLC is simply to own the new businesses while management takes place at the subsidiary level. Hi Matt, I want to start a multi-branding business under one company! What type of business is best suited for this? LLC, S-Corp, Corp, C-Corp, Inc? I`m confused, someone told me to register an LLC and be taxed as an S-Corp! According to Matt, what is most appropriate and important for my multi-brand businesses? Hi Mike, DBAs in California are filed at the county level (the county where the head office is located). They should contact the county to get their forms and instructions. Within 30 days of registering the DBA for your LLC, you must also publish a statement in a local general run newspaper near the primary place of business. The notification must appear once a week for 4 consecutive weeks. The newspaper will send you an affidavit after the ad has been placed.
You must then file the affidavit with the city or county. For more information, see California Franchise Tax Board: Guide to DBAs. A problem, I know, but I hope it helps. This means that for each area of the company, for each product line, for each service provided, for each property owned, customers often consider forming separate and traditional LLCs. This ensures that the assets, liabilities and liabilities of each LLC are completely separate and protected in the event of a potential dispute. Hi Tracy, just forming an LLC doesn`t protect all activities. The business must be conducted through the LLC. For example, all contracts are in the name of the LLC, the bank account belongs to the LLC, all insurance is in the name of the LLC, etc. At first glance, it seems that this is not the case in your situation.
It looks like Wolff Productions is just a DBA name (also known as a trade name or fictitious name) for a sole proprietorship or partnership. I hope this helps. At present, the best practice of creating individual LLCs formed for each variant of a business has traditionally remained the most recommended strategy by tax professionals, lawyers, and business consultants around the world. Belle Wong, JD, is a freelance writer specializing in small business, personal finance, and marketing topics. Connect. Read More Yes, you can have multiple companies under one llc.