Additional Business Bank accounts or not?

[Ray Realdine]

I have an LLC in PA for my rental property and just formed an LLC in New Jersey using the same name and same EIN. My question is do I need to have a separate bank account for my LLC in New Jersey? If so, what is the rationale?

Thanks

Ray

[Aaron K.]

My main question is why did you get a 2nd LLC and not just foreign qualify the existing one unless you wanted to protect them from each other? However if they are two separate entities you will probably need two separate bank accounts.