Can a Corporation or LLC own a Sole Proprietorship?
Asked by: Deborah - 23 July, 2012
I want to either incorporate or form an LLC in New York or in Wyoming. I want my company to be diversified, offering different lines of service or goods. Can I have a parent company (Inc., or LLC) that then owns multiple sole proprietorships? Can I form the parent company in Wyoming and the DBAs in New York or some other state if I move?
I want to either incorporate or form an LLC in New York or in Wyoming. I want my company to be diversified, offering different lines of service or goods. Can I have a parent company (Inc., or LLC) that then owns multiple sole proprietorships? Can I form the parent company in Wyoming and the DBAs in New York or some other state if I move?
Answered by: Ray Albert - 25 July, 2012
Deborah,
An LLC or Corporation can own as many DBA's as it would like. The one major limitation you will have is that the DBA's carry certain geographical restrictions, meaning they could only be registered in the state where the parent company is registered. So if the parent company is registered in Wyoming, for example, the DBA's could only be registered in the state of Wyoming.
In the event that you move in the future, you could file a registered LLC or Corporation as a foreign entity in the new state, and then register new DBA's under the foreign entity.
Deborah,An LLC or Corporation can own as many DBA's as it would like. The one major limitation you will have is that the DBA's carry certain geographical restrictions, meaning they could only be registered in the state where the parent company is registered. So if the parent company is registered in Wyoming, for example, the DBA's could only be registered in the state of Wyoming.
In the event that you move in the future, you could file a registered LLC or Corporation as a foreign entity in the new state, and then register new DBA's under the foreign entity.
