Answer:
The TIN being used is a red herring in the question. It does not affect the answer. In those states in which spouses may jointly own and operate a sole proprietorship, such customers may hold a NOW account to be used for the business.
In those states in which spouses may not jointly own and operate a sole proprietorship, the business would be considered a partnership or joint venture that would not qualify to hold a NOW account, but it may hold an interest-bearing demand deposit account, as can all customers (if the bank makes such accounts available).
First published on BankersOnline.com 8/6/12