What is an EIN (Employer Identification Number)?
Getting an EIN does not cost any money, it is a free service offered by the IRS and is used to identify the taxpayer for tax purposes.
Why You Need an EIN
An EIN identifies your business for tax purposes, much like a social security number does for individuals. It is essential for various tasks related to your business, such as hiring employees, filing taxes, and opening a bank account.
Applying for an EIN
- An EIN is a nine-digit number used by the IRS to identify a business.
- Obtaining an EIN is free.
- Applying online is the easiest and most common way to get an EIN.
Does It Cost for an EIN Number in NC?
There is no cost for obtaining an EIN number. It is a free service offered to businesses by the IRS.
Is There a Charge for an EIN Number?
- The standard fee for obtaining an EIN number is $75, but it is actually a free service.
- An EIN is mandatory for most businesses and optional for others.
- The IRS does not charge a fee for issuing an EIN number.
Getting an Employer Identification Number
Applying for an EIN is essential for businesses with employees and is often required by banks and vendors.