1. Missed the live Ask the Expert event?
    Not to worry. Check out the archived thread of the Q&A with Ken Hutcheson, President of U.S. Lawns, and the LawnSite community on the Franchising Forum.

    Dismiss Notice

inc.

Discussion in 'Business Operations' started by SDF250, Feb 17, 2001.

  1. SDF250

    SDF250 LawnSite Member
    Posts: 88

    can an s corp. engage in 2 separate kinds of biz?
    landscape/tree
    lanscape/sweeping
    gen. contracting/paving
    or do the have to be a separate biz?
     
  2. Stonehenge

    Stonehenge LawnSite Bronze Member
    from Midwest
    Posts: 1,277

    I don't know about licensing requirments in your state, but if you want an S-corp that makes software and cleans gutters, that's up to you.
     
  3. Green Finger

    Green Finger LawnSite Senior Member
    Posts: 839

    As an S corp, it allows to to have one parent company.
    Under that company you can have separate companies. Each company is responsible for filing separate taxes. Showing profits and loses.

    It's called the umbrella effect.
     
  4. Stonehenge

    Stonehenge LawnSite Bronze Member
    from Midwest
    Posts: 1,277

    Though you wouldn't have to have separate biz identities for

    landscape/tree
    landscape/sweeping
    etc

    They could be done under a single company name, unless you have liability reasons to not have the 2 together or related.
     

Share This Page