The answer is yes–it is possible and permissible to operate multiple businesses under one LLC. Many entrepreneurs who opt to do this use what is called a “Fictitious Name Statement” or a “DBA” (also known as a “Doing Business As”) to operate an additional business under a different name.
What comes after getting an LLC?
There are nine next steps after forming an LLC: create an operating agreement, get an EIN, register for taxes, get an accountant, apply for business licenses and permits, open a business bank account, get insurance, establish your web presence, and publish a press release.
How do you structure multiple LLCs?
Three ways to legally structure multiple businesses:
- Single business entity with multiple DBAs.
- Form separate LLCs or corporations for each business unit.
- Create a holding company with separate LLCs or corporations beneath it.
- Each to their own — the importance of considering each client’s unique situation.
What do you need to know about creating a LLC?
For example, creating separate LLCs requires filing Articles of Organization for each company, maintaining separate operating agreements, and filing whatever ongoing reports and fees are required for each LLC. Each LLC must also obtain its own EIN and business licenses and permits, and each must maintain its own records and bank accounts. 3.
Can you have two businesses under one LLC?
You can run two or more businesses under one LLC by either: running all the business activities under one LLC name, or registering DBAs (“doing business as”), also known as Fictitious Names.
Can a LLC be used for multiple business ventures?
While running multiple business ventures under the umbrella of an existing LLC offers a degree of simplicity and avoids multiple business formation fees, the matter of liability risk to the business and business owners is something to think about carefully. To recap:
Can a company become a partner in a LLC?
Businesses as well as individuals can become partners or sole owners of an LLC, and the LLC can become a partner in another company. When you file the paperwork to create an LLC, you’ll have to register the company name, for example, “Titanium Paperclip Manufacturing LLC.”
