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Daniel Kokhba
Daniel Kokhba,
Category: Business Law
Satisfied Customers: 56892
Experience:  Partner at Kantor Davidoff
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I have a S corp. restaurant in Maryland. My partner and I

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I have a S corp. restaurant in Maryland. My partner and I are going to open a new restaurant with the same name and menu in another location. Do we need to start another S. Corp for this location?

If we do, how close do I need to name the new S. Corp?

If we don't, do we just get new ID numbers?

Thanks, Lee
You can operate it under the same S Corp.   I see no advantage to opening another one unless you want to separate expenses and incomes from each restaurant.
Customer: replied 7 years ago.
We do want to keep everything separate. So do we file a new S. corp? How close does the name need to be or not need to be?

Thanks, Lee
You can either keep separate books which an accountant can manage and the same corporation or form another corporation. The name should be different and will need a new Tax ID number. Your accountant can do all of this for you which is cheaper than using a lawyer and better than doing it without one to ensure the paperwork is in order.   
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