There is no restriction on how many DBAs a person can have. You may have as many DBAs as you need, provided each name represents a different business entity and is properly registered. Keep in mind, too, that each DBA name must be distinct and not in use by another company in your neighborhood. Can You Run Two Businesses Under the Same DBA?
Yes, as long as all of the businesses are owned by the same person or entity and are legitimately registered, you are permitted to operate more than one business under a single DBA name. Using this tactic can help you bring together several services or businesses that are similar under a single brand identity. The fact that each business entity must still have its own EIN (Employer Identification Number) and submit its own tax returns should not be overlooked. Do I Require a Different Bank Account for Each DBA?
Although it is generally advised, having a different bank account for each DBA is not legally required. It is simpler to track income and expenses when each business entity has its own bank account, which is crucial for correct accounting and tax reporting. Even if they operate under a single DBA name, it’s a good practice to keep separate records and financial statements for each business unit. How Can I Operate Two Businesses Within One Company?
There are a few solutions available if you want to run two independent firms through a single corporation. One strategy is to give each business a unique DBA name and run it as a separate entity within the corporation. Another choice is to establish distinct legal structures, such as an LLC or corporation, for each firm. This strategy can provide more liability protection and more legal separation between the firms.
In conclusion, using numerous DBAs to operate different businesses or provide different services under one brand name is legal and can be a valuable tactic. Each business entity must still be properly registered and have a unique EIN and tax reports. Keeping separate bank accounts and financial records for each business entity is also advised. You have a number of choices to think about if you wish to run many businesses through one organization, including establishing distinct legal corporations for each business.