12/12/2023 0 Comments Do you need an ein for an llcBut maybe you are wondering if there are benefits to having one. Maybe you have just discovered that you don’t need an EIN for your single-person LLC. Operating a multi-member LLC without an EIN is against the law. If you choose to be taxed as a corporationĮven if neither of these applies to you, remember that if you have multiple members in your LLC, you must use an EIN.There are a couple of circumstances where you may need an EIN for a single-person LLC. This is because the IRS considers any money your single-person LLC makes as just personal income, meaning your social security number is what you will use for taxes.īut, if your LLC has multiple members, such as paid employees, that you keep on payroll, then you absolutely need an EIN. If your LLC is just you, then you don’t need an EIN. Whether or not you need an EIN for your LLC depends on how many people are involved. You simply need to apply for one through the IRS. Unlike your LLC, which you likely had to pay a few hundred dollars to set up, an EIN is free. You should not be worried or concerned about giving out your EIN when it is requested. It is made up of nine digits and always appears in the following format: XX-XXXXXXX.ĮINs are public information. This number will allow the IRS to keep track of your business and the taxes you and your employees owe.Īn EIN can be compared to a social security number, but one that is for your company rather than a person. An EIN is an employer identification number for your business when it comes to tax season. Sign up now and you'll get a 100% error free LLC formation service you can rely on! Try ZenBusiness → What is an EIN?īefore discussing whether or not you need an EIN, it’s important to know what an EIN is. ZenBusiness is one of the most trusted ways to form an LLC for your business.
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