Friday, September 5, 2008

When applying for EIN/Tax ID # from the IRS

and you have chosen a Limited Liability Company (LLC) always choose a corporate EIN (Employer Identification Number) or Tax ID Number (TIN). Tax ID Numbers and EIN's are the same thing.

An LLC is a type of corporate structure. This is straight from my business attorney. When you are applying for your EIN you have the choice of: sole proprietorship, partnership, or corporation. LLC is not listed on the application. I am giving you this heads up to eliminate one of the invisible walls you run into in business ventures. I call unknown unknowns invisible walls. That is where you do not know what you do not know until you run into it.

A person or a corporation gets one EIN in life. If you have applied for one as a person doing business that is the one that is attached to you for life. Whenever you open up a new business you use that EIN unless you are starting a new corporation or LLC because they are their own legal entities they need a new EIN.

Here is the IRS link to apply for an EIN/TID
https://sa1.www4.irs.gov/modiein/individual/system-unavailable.jsp

The page almost always says, "Our online assistant is unavailable."
Simply goto the top right corner of the page and click "Apply for new EIN"

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