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Ely
Ely, Attorney
Category: Business Law
Satisfied Customers: 101758
Experience:  Counselor at Law.
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I own a consultant brokerage as a C Corp. It is held as a DBA

Customer Question

I own a consultant brokerage as a C Corp. It is held as a DBA under my corporate name. I am looking into buying another business. Do I need another EIN, and can I also own this new business as a DBA.
Submitted: 1 year ago.
Category: Business Law
Expert:  Ely replied 1 year ago.
Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms. If you purchase a new business, then you want to get a new EIN for it. Regardless of whether it is a corporation, a sole proprietorship, or whatever else. This helps to mark a change so if there was some irregularity on behalf of the old owner, then it may not necessarily affect you. You can add a DBA to any corporation or corporate entity you choose. So this is up to you. I hope this helps and clarifies. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how experts get credit for our time. Rating my answer the bottom two faces/stars (or failing to submit the rating) does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith with a positive rating.
Customer: replied 1 year ago.
I need to clarify. I own SDR Koel Inc. I am doing business now as SDR Franchise Partners as a DBA. Can the new franchise business that I am buying also be a DBA of SDR Koel with a new EIN?
Expert:  Ely replied 1 year ago.
Ah, thank you. The answer is yes. For example: one can have two corporations that both have the SAME DBA. Unusual, but not unlawful. And then, each corporation would have a different EIN. Gentle Reminder: Please, use REPLY or SEND button to keep chatting, or RATE POSITIVELY and SUBMIT your rating when we are finished. You may always ask follow ups at no charge after rating.
Customer: replied 1 year ago.
SDR Koel Inc
Customer: replied 1 year ago.
You mention unusual, what would be more typical in my case?
Expert:  Ely replied 1 year ago.
That each corporation (or company in general) has its own DBA. Gentle Reminder: Please, use REPLY or SEND button to keep chatting, or RATE POSITIVELY and SUBMIT your rating when we are finished. You may always ask follow ups at no charge after rating.
Customer: replied 1 year ago.
So, If I understand correctly, I currently have 1 EIN which i use for SDR Koel Inc. I also use that same EIN for my brokerage business titled SDR Franchise Partners which is a DBA. I want to buy another business. 1. Assuming I get another EIN, I want both companies to "roll up' to SDR Koel Inc. What do i need to do?
Expert:  Ely replied 1 year ago.
Please do not use your actual business name(s) as this is a public forum.
Let us step back a bit before we get confused.
You have ABC, Inc, and an EIN for it.
You have XYZ which is a DBA, and use the same EIN for it as you do for ABC, Inc.
You want both ABC, Inc. and XYZ to be under ABC, Inc. and one EIN.
Correct?
Expert:  Ely replied 1 year ago.
Hello! Just touching base to see if you still needed an answer and if you could reply to my query. Thanks!