Employer Identification Number (EIN): Do I Need One?

An Employer Identification Number (EIN), or Federal Tax Identification Number, is a nine-digit number assigned by the IRS to identify a business entity; it is like a social security number for businesses.

Applying for an EIN number is part of the incorporation process. You will need this number for tax returns, to setup a bank account, and for other identification purposes.

You need an EIN number if any of the following apply to you:

– You have employees.

– Your business operates as a corporation,  LLC, or partnership.

– You file any of the following tax returns:

  • Employment
  • Excise
  • Alcohol, Tobacco and Firearms

– You withhold taxes on income, other than wages, paid to a non-resident alien.

– You are involved with any of the following organizations:

  • Trusts (except certain grantor-owned revocable trusts), IRAs, Exempt Organization Business Income Tax Returns
  • Estates
  • Real estate mortgage investment conduits
  • Non-profit organizations
  • Farmers’ cooperatives
  • Plan administrators

Here at Boyer Law Firm, helping you to obtain an EIN number is only one of the many incorporation services we offer.

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