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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?
yes that's correct.
So is there anything that we have to do special in order to place the store under the corporate umbrella?
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
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.
do we need to register a dba name?
You do not have to register a trade/business name, but it is common practice.
Ok, do we need to get a sales tax number under the corporate name or under the name of the store?
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]".
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?
Got it. Thank you!!!
You're welcome. Thank you!
Have a great day!