Forming LLC, changing from Sole proprietor

[itmanusa]

Hi,
Currently I have a home based business that is registered with WV Tax and Revenue dept as a Sole proprietor business with my Name and SS#. My business name (Design A Memory)is listed on the business license as well. I would like to form a LLC so that personal liability will be minimized and I can keep business separate. I would like to call my LLC "PK Enterprises LLC". Here are some questions that I have and I am hoping someone can give me some answers/advise.
1. Under PK Enterprises LLC, can I create other businesses (my wife wants to do a clothing line and have a separate name), would that be considered DBA?
2. Can I bring Design A Memory under PK Enterprises LLC? Do I close the sole proprietor business first to do that and use DBA?
3. I have domains and bank accounts under this name, so I don't want to lose this. I know that only the LLC name would be registered with Secretary of State in WV, do I need to pay for the other 2 names as well?
4. Should I get EIN from IRS and would I use that to identify business for stuff like credit cards and such?

 

[Michael Wechsler]

If you have an LLC, typically there will be a purpose of the business. In addition to not wanting to commingle businesses, there might be a conflict. Don't save the money - have your wife create another LLC to run her clothing line lest the two of you deal with problems stemming from either business that wipes out all the businesses. Best of luck with them.