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.
