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Ethan
Ethan asked in Business & FinanceSmall Business · 2 months ago

Multiple Businesses Registration?

So I was planning on opening several franchises in Texas, and was wondering for each one that that I open, would I have to register for a new EIN and with the SOS, or would I be able to just use one registration? And if I had to register more than once, how would  like the taxes and stuff work if it was owned by another business entity, wou

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  • Paul
    Lv 4
    2 months ago

    Those questions demonstrate that you don't know anything about how to create and operate a business entity. This is not DIY stuff. If your business is not worth hiring people who know what they're doing, it's not worth anything.

    Liability protection from a single-owner small business entity is a myth. The only thing that will shield you from liability is a good business insurance policy.

  • StephenWeinstein
    Lv 7
    2 months ago

    For liability purposes, it may be better to set them up as separate corporations or LLC's, with their own registration, so that you are less likely to lose them all if one of them gets sued for more than you can pay.

  • A Hunch
    Lv 7
    2 months ago

    You get to decide the tax structure of your business.

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