Hi All, hope you are all having a great Holiday.
I am very confused as to the legalities and steps to take with regards to my business.
I currently have a single member LLC and EIN in NJ to practice physical therapy.
I am opening a 2nd location in NY. I am in the process of obtaining a PLLC in NY.
The legal names for NJ/NY will be different, but the DBA names will be the same.
1- Do I need a 2nd EIN for the NY location?
2- Can I use my current EIN that was created in NJ for all locations? If doing this, how would the IRS know that another company created in NY is identifying with this EIN?
3- Let's say I DO require separate EINs for each state- would each state/EIN/company have completely separate accounting ?
4- I would like to elect S-Corp status- so for my current EIN (NJ)- I would file form 2553 to make that election correct ? And by doing so I would become a W2 employee for the company, correct?
5-Again, Let's say I DO require separate EINs for each state, and I have elected S-Corp for each EIN (NJ/NY)- how would I choose which EIN/State/Company to be W2'd from? I live in NJ- so I'm assuming that would be best option for W2?
Any other advice or considerations I should know will be much appreciated! Thanking you in advance!
