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nicks0r
03-06-2006, 02:19 PM
Currently I am looking into starting an S-Corp for my owner-operator trucking business. The primary means of the income for this company will be my operations as an owner-operator trucker.

Aside from this I am looking into developing websites for business use aside from my trucking business.

My question is, is it practical for me to operate both these business functions under the same corporation? Or since they are so seperate in nature their business would I have to separate them into two different entities?

Or, even if it is legal to do so, is it practical? What do I have to gain by separating them or keeping them together?

For simplicity sake I would prefer to operate all my business functions under one S-Corp.

Any advise would be great.

Thanks

babbsela
03-08-2006, 12:13 PM
An S-corp can have more than one product or service. You could set up a separate dba for each one, and keep the books separate. Depending on the state of residence, you will most likely need to register each trade name with the state as (for example) nicks0r S corp dba sub-business name.

BTW: I am not an attorney, and this is not legal advice. The secretary of state, or department of revenue for your state is the place to ask.

dolly fsession
03-05-2014, 07:05 AM
This topic is so much helpful topic.Thanks admin to giving this topic.And also thanks other users.

taxcpa
08-19-2014, 10:39 AM
I am a firm believer in separating risks. Different businesses should be operated by separate entities. This way a problem with one will have less impact on the others. Of course, nothing is a 100% guarantee, but having separate entities is a step in the right direction.

pratik ganvir
12-26-2015, 08:59 AM
An S-corp can have many services, I don't think you have to form a different company for this. But I advice to consult an attorney before taking any steps.
I like your idea of developing the website for your trucking business, as I am a web developer I can guide you into website development if you want.

All the best for your business.

HenrySam
11-14-2017, 01:47 AM
An Scorp May Possess over 1 Item or Support. You can establish a dba for just about every individual, and also maintain the novels different. Based upon their condition of house, you'll probably demand to enroll each transaction title with their condition as (such as) nicks0r s-corp dba sub-business identify.

gilsulate
03-01-2019, 03:06 AM
Depending on the state of residence, you will most likely need to register each trade name with the state as (for example) nicks0r S corp dba sub-business name.

nataliesarah
09-19-2019, 10:47 PM
S Corporation status can be released voluntarily by submitting an appropriate termination statement. This type of revocation can only be done with the approval and approval of the majority shareholder. The complete process, and all necessary supporting information requirements, can be found in the IRS Regulations section 1.1362-6 (a) (3) and in the Instructions for IRS Form 1120S, US Income Tax Returns for S Corporation.

speeduser
02-05-2021, 02:40 PM
Having a multi-functioning corporation is really good. It is simply one of the things that is makes a lot of businessmen drool. - Green Water Technologies (http://www.gwtinc.net/)