LLC name for multiple businesses [Video]



Last updated : Aug 6, 2022
Written by : Earl Addie
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LLC name for multiple businesses

What is it called when you have multiple businesses under one LLC?

Another way to structure multiple businesses under one LLC is to set up a holding company. Under this option, you would create separate LLCs for each new business venture and “hold” them under your primary LLC. This arrangement is also referred to as an umbrella company or parent company.

What do you call a company with multiple businesses?

A conglomerate is a corporation made up of several different, independent businesses. In a conglomerate, one company owns a controlling stake in smaller companies that each conduct business operations separately. Conglomerates can be created in several ways, including mergers or acquisitions.

Is it better to have multiple businesses under one LLC?

While it might seem tedious or require additional effort to set up a separate LLC for your new business idea, it's often a better route to take than running both businesses under your current LLC.

Can there be multiple LLCs with the same name?

Can Two LLCs or Companies Have the Same Name? Yes, with some exceptions. When you're forming a corporation or an LLC in a state, the name must be unique to your business within that state. Others can form LLCs and businesses in other states that have the same name as yours.

How many businesses can you put under an 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 I use one EIN for multiple businesses?

You cannot use the same EIN for multiple businesses, even if they are owned by the same person. EINs are not limited, so you may apply for as many as you need. You are dividing your business into separate entities.

What is a good name for an LLC?

  • Make It Legal. The most important thing when you're choosing an LLC name is to make sure it's legal.
  • Make It Memorable. You want your LLC name to be something people can remember.
  • Make It Meaningful.
  • Make It Original.
  • Make It Distinctive.
  • Make It Domain Name Ready.
  • Make It Social Media Friendly.

How do you say more than one company?

The word companies' is generally used when something belongs to more than one company.

What is it called when one company owns everything?

In the business world, a monopoly is when one company, or group of companies, controls production or sales in an entire market or sector.

What is the best structure for multiple businesses?

  1. Create individual corporations/LLCs. First, there's no limit to how many corporations or LLCs one person can form.
  2. Put DBAs under one corporation/LLC.
  3. Create a business under the holding company.

How do you legally structure multiple businesses?

  1. Single business entity with multiple DBAs.
  2. Form separate LLCs or corporations for each business unit.
  3. Create a holding company with separate LLCs or corporations beneath it.
  4. Each to their own — the importance of considering each client's unique situation.

Can I have 2 company names?

Can Two Companies Have the Same Name? Yes, however, certain requirements must be met in order for it to not constitutes trademark infringement and to determine which party is the rightful owner of the name. These requirements include: Are the businesses in the same industry or geographic location?

Should I name my LLC after myself?

Sometimes it makes sense to name your LLC after yourself if you want to grow your personal brand, but in some cases using your personal name can limit your business' growth or even confuse customers.

Can someone sue you for having a similar business name?

If you have determined that a confusing similarity exists and that similarity has, or is likely to cause confusion, you may seek legal action. The most common result is that a court will require one of the companies to stop using that name through an injunction.

Can you have multiple LLCs under one address?

While it can be done, it's important to understand that owning multiple LLCs is more complicated than owning just one. Multiple LLCs mean additional paperwork and fees, additional tax forms, and the possibility of conflicts of interest.

Do I need a DBA for my LLC?

No, you do not need a DBA for an LLC. This is because when you register an LLC, you'll also register your company name eliminating the need for a DBA. However, in some instances, you may use a DBA for your LLC to expand your business and operate part of it under a name other than your original business name.

Can a LLC have two ein?

The simple answer to the question of how many EINs you are allowed is as many as the number of business entities you have. A single business or entity can have only one, although there are situations where you will need to apply for a new one due to changes to your business.

Can two businesses have the same DBA name?

For most states, two businesses will not be allowed to use the same DBA. Doing so will cause confusion, especially when the fictitious names are in the same industry. In order to use a DBA for your business, you must submit an application. Just make sure that your fictitious name isn't already taken!

Can I have 2 self employed businesses?

Sole traders can have more than one business, but should remember that they're not legally separate from each sole trader business they have. This means that you must consider all of your sole trader income from each business to make sure you register for VAT when you're supposed to.

Is a LLC and a EIN the same?

An LLC will need an EIN if it has any employees or if it will be required to file any of the excise tax forms listed below. Most new single-member LLCs classified as disregarded entities will need to obtain an EIN. An LLC applies for an EIN by filing Form SS-4, Application for Employer Identification Number.


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LLC name for multiple businesses


Comment by Lindsey Belter

hey this is attorney Elizabeth potts-weinstein and today we're going to talk about whether or not you can have multiple businesses under just one LLC an LLC or limited liability company is a business entity that you can form to protect yourself personally from liability issues of your business and there's also some other benefits about taxes and things like that now if you form an LLC there are certain costs that go into form of the LLC maintaining it paying franchise fee taxes all this kind of stuff so you may Wonder well if I have a new project a new website I have this YouTube channel I'm doing some Consulting work I'm selling a new product over here do I need to form LLCs for all these different projects the short answer is you can put all your different projects under one LLC but there are times where you don't want to so let's break that down if you put all your various projects under one LLC there are definitely benefits to doing that fewer costs because you're setting up one LLC less hassle because all the forms and all the stuff that you need to file and create you only got to do that one time all the expenses are put together so they can all share the same accounts and services and software and all that kind of stuff and there are some tax benefits to putting everything together if one of the businesses has a loss that gets wrapped into the other business that makes a profit and so it looks like you're not making as much money because the bottom line is you're not taking home any more money so it makes sense that you're paying fewer taxes however there are a couple problems with having everything in the same LLC for first you have to have the same ownership structure for those various projects perhaps this one project over here you're Consulting you're doing completely on your own over here this website business you're in a venture with a friend and so having that all in the same legal entity doesn't make a lot of sense the next aspect is that all these projects are inside the same LLC so they're all liable to each other so let's say you have one project where you're taking on a lot of debt there's a lot of inventory and it loses money it goes under and then your project over here that does awesome is making all kinds of money and is making you a profit for you to take home it's actually liable for this business so you can't just file bankruptcy and have this business go under this business has to pay off the debts of this other business and that may not be what you're looking for in certain situations so when does it make sense to have one LLC with all your projects in it first there's only one owner it's just you the project are relatively low risk so you're not taking on debt you're not likely to get sued so you're not really worried about the liability issue for the projects to each other third is that a lot of these projects are kind of new experimental ideas that you're working on and it doesn't make sense to do the expense of forming a new LLC and last you want the tax benefit of putting everything together you've talked to your tax person and that makes sense in your situation when do you not want to put them all together in one LLC first is the ownership structure is different that's just not going to work it's not going to be practical second is if one of the businesses is high risk it's taking a lot of debt it has a lot of inventory it has a lot of employees there's potential litigation issues because the kind of industry you're in you want to keep that separate from your other projects third if you want to sell off part of the business if there's one of your projects that you're developing to sell to a bigger company you're going to eventually want that to be separate you don't have to start out with it being separate but you're eventually going to want to spit it off so it can be sold as a separate project and lastly there can be tax benefits to having your various projects in different LLCs that's kind of beyond the scope of this video the exact tax benefits and it really depends upon the exact businesses you have sometimes splitting off real estate or the business that has employed a lot of employees or the business that owns all the intellectual property there can be great tax reasons to split off at even parts of a business or entire businesses from each other they can then do transactions with each other and do all kinds of creative tax things but that has to make sense in your particular situation so you want to talk to your Tax Advisor about that again this is Elizabeth Potts Weinstein if you have any questions about whether having just one LLC is a good idea in your situation feel free to ask them below and I will try to point you in the right direction thumbs up if you found this video helpful and subscribe if you'd like any more tips for small business owners thanks a lot for watching bye


Thanks for your comment Lindsey Belter, have a nice day.
- Earl Addie, Staff Member


Comment by ravanicuv

Thanks for this interesting article


Thanks ravanicuv your participation is very much appreciated
- Earl Addie


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