More details to this question:
I want to set myself up legally to sell items at flea markets and on the web under one llc but have separate names for the flea market operation and the webstore operation. Each idea would also have a different focus but need they be separated accounting-wise and tax reporting wise? I eventually want to find a store location but still would want to keep two separate identities for each side of the business. Otherwise, would I need to create a separate llc for each DBA or perhaps just two llcs with no DBAs? Thanks, Steven
1 ANSWER
You can have more than one dba for an llc, but in your case I would not recommend it. LLC's are separate legal entities; dba's are just trade names, not separate entities. In other words, if you have 2 llc's and operate them correctly, they will each be independent entities and not responsible for each other's obligations. No matter how many dba's you use, however, if they are all used by the same llc, that llc is reponsible for all of its obligations, regardless of which name was used in incurring the obligation. It is one entity for tax purposes as well.
Answered on Oct 04th, 2018 at 8:24 AM