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Can one combine two separate sole proprietorships with their own DBA and EIN together into one LLC?

Posted by Giselle Ayala Mateus | Jul 09, 2020 | 0 Comments

By Giselle Ayala Mateus

If two persons are doing business as sole-proprietors, they can come together to form a new entity such an LLC. If the sole-proprietors have been in business for considerable time and they have independent licenses, intellectual property and contracts, it is important to formalize the creation of the entity with a written agreement that considers what will be contribution of each member, as well as what will happen to those licenses, intellectual assets and contracts. Additionally, the new LLC as an entity independent of its member will need a new EIN.

#business#entityformation#llc#EIN#contracts#trademarks#mybusiness#compliance#licenses

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About the Author

Giselle Ayala Mateus

Giselle Ayala Mateus is a NY attorney with comprehensive experience in transactional law, creative agreements, business formation, and immigration law. She is also the founder of FOCUS a not-for-profit project focused on supporting entrepreneurs and artists.

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