To do business as an LLC or a corporation, you need a federal Employer ID Number (EIN) from the IRS—the business equivalent of an individual's Social Security number.
A tax ID number (EIN) is crucial for taxes, banking, and payment.
Without an EIN, your business simply can't get off the ground. It’s necessary to file federal tax returns and to receive a tax ID number from most states
Aside from taxes, you need an EIN to open a business banking account or credit card. And when it comes to invoicing, many companies won’t pay you without an EIN on file.
Do I need a new EIN if I changed from a corporation to an LLC?
Generally, yes. You typically need a new EIN when you change your business structure. Incorporators.com, Inc incorporation experts can help you determine if this rule applies in your case.
How do I apply for an EIN?
You can apply online or using IRS Form SS-4 (“Application for Employer Identification Number”). You’ll need to supply information about your business, including your industry type and projected number of employees. Incorporators.com, Inc can help you sort through the IRS lingo to make sure your application is accurate.
