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Thomas McJD
Thomas McJD, Attorney
Category: Business Law
Satisfied Customers: 6515
Experience:  Experienced in Corps, LLCs, Partnership, etc.
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We currently have a corporation set up for our real estate

Resolved Question:

We currently have a corporation set up for our real estate transactions. Its a full corp, not an S corp. We wanted to open a retail store in our town and wanted to put it under the umbrella of the corporation, but not with the same name as the corporation. I have an EIN number established for the corp, but haven't started everything for the new business. Is it possible to call the store a different name (especially on signs/advertising), but have it as a division of the corporation, without putting the corporation on everything to do with the store? Is there any special thing we would need to do or file for the new company to go under the corporation?
Submitted: 1 year ago.
Category: Business Law
Expert:  Thomas McJD replied 1 year ago.

TMcJD :

Hi, I will be happy to assist you, and it is my goal to make you a very satisfied customer! This may take a few minutes, so thanks for your patience.

TMcJD :

You would be okay reporting all tax matters under the corporation and under the corporation's EIN -- you just want to operate it under a different name - is that correct?

Customer:

yes that's correct.

Customer:

So is there anything that we have to do special in order to place the store under the corporate umbrella?

TMcJD :

No, as long as you operate it under the corporation, it's part of the corporation. But you can conduct that portion of the corporation's business under a dba ("doing business as") name

TMcJD :

Corporations can legally carry on any type of business that is legal and that is not restricted by the articles of incorporation or the bylaws of the corporation.

Customer:

do we need to register a dba name?

TMcJD :

You do not have to register a trade/business name, but it is common practice.

TMcJD :

http://www.azsos.gov/business_services/tnt/WEB_TN_INSTRUCT.HTM

Customer:

Ok, do we need to get a sales tax number under the corporate name or under the name of the store?

TMcJD :

Under the corporate name. Legally, everything is under the corporation's name, but you can print business cards under the dba, have the store name/sign be the dba name etc. But legal documents such as tax matters, contracts, etc. will be under the corporation's name, conducting the business of [nature of store] as "[name of dba]".

Customer:

Ok, I think that makes sense. If I open checking accounts, sign leases, fill out tax papers for the state, it would have to read something like: "Grahlman-Roarke Inc., DBA Mama Bear Décor"... does that sound about right?

TMcJD :

Exactly

Customer:

Got it. Thank you!!!

TMcJD :

You're welcome. Thank you!

TMcJD :

Have a great day!

Thomas McJD, Attorney
Category: Business Law
Satisfied Customers: 6515
Experience: Experienced in Corps, LLCs, Partnership, etc.
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Thomas McJD
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Experienced in Corps, LLCs, Partnership, etc.