Multi-stores with one Account

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Hello,

I wish to start my first e-commerce drop shipping store and need some clarifications. I plan to start with one store  (one account -one tax identity) and the then add more stores over the course of time to the same account/tax identity. 

For example, if my business name is   "Online Bazaar " and my first store is Panacea.com, with email as Panacea@onlineBazaar.com , can I add another store in the same account, say with a name NewPandora.com with the email as  NewPandora@onlineBazaar.com  and so on.

Please inform me as to what would be the best way to go about it? 

Thank you

Subimal Chopra

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