Business Structure Considerations
- You can have multiple DBAs under one sole proprietorship or multiple names under one corporation.
- One LLC can have multiple businesses under it.
- Series LLCs isolate and protect properties from other series’ liabilities.
- LLCs provide limited liability protection.
Managing EINs
Do I need a separate EIN for each DBA?
- The EIN is a unique nine-digit number issued by the IRS to a business.
- Obtaining an EIN can be done at no cost in five minutes when registering with the IRS.
- If you’re just starting your business as a sole proprietorship or single-member LLC with no employees, an EIN is not required.
Can you have multiple LLCs under one EIN?
- A Series LLC allows separate “series” within one entity, each with its assets and liabilities.
- Some clients reach attorneys to help keep assets separate between series and maintain records separately.
- Generally, the parent Series LLC obtains an EIN.
Tax and Legal Considerations
- Delaware does not require a report for each Series LLC series.
- Series LLC law distinguishes registered and protected series.
- Some states require licensed professionals to form a Professional LLC.
Formation and Operations
- You can use inner joins in SQL queries.
- Some businesses require licenses and permits to legally operate.
- Different entities require different EINs.
- Employees should know that work for other companies counts for overtime.