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Can a trust own a business?

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Can a trust be the sole owner of a business like a sole proprietor?

Yes a trust can own a business.

If it is a sole proprietor, the trust will file a trade or assumed name at the government unit in your state. It would be styled as:
The Bob Smith Living Trust
Dba Floral Enterprises.
We also see trusts as owners of other types of businesses such a single member LLC. If the trust is a single-member owner it may look very similar to the dba and styled as:
The Bob Smith Living Trust
Floral Enterprises, LLC

In this case the trust is the tax reporting entity. This is called disregarding the LLC for tax purposes.
Learn more about Deborah Crawford’s webinar Business Accounts—Beyond the Basics

First published on 06/16/2019

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