Understanding EIN and its Importance for Businesses
An Employer Identification Number (EIN) is a unique nine-digit tax identification number assigned by the IRS for tax purposes. Obtaining an EIN is straightforward when registering with the IRS.
When and How to Obtain an EIN for Your Business
If you’re starting as a sole proprietorship or single-member LLC with no employees, an EIN may not be required. However, in most cases, obtaining an EIN is essential.
Considerations for Operating Multiple Businesses Under One EIN
Each legally separate business usually requires its own EIN. However, there are options for using one EIN for multiple DBAs under a single proprietorship or corporation.
Setting Up Multiple Companies under One LLC
You can run multiple businesses under one LLC by strategically using DBAs or setting up a holding company structure.
Can You Use an Old EIN for a New Business?
Whether or not you can use an old EIN for a new business depends on various factors, such as the structure and ownership of the businesses involved.