How Many EIN Numbers Can I Have?

by - 6/27/2018 05:56:00 AM

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An Employer Identification Number, or EIN, is a nine-digit number used to track a business’s tax responsibilities by the IRS in the United States. An EIN number is compared to a Social Security Number as it has the same function, except it is for businesses instead of individuals. At IRS-EIN-Tax-ID, an EIN number can easily be applied for. Only one EIN is needed per legal business, but there are instances when more than one EIN number is needed. Learn more about multiple EIN’s below.

Multiple EINs

If you are a business owner who owns multiple corporations, limited liability corporations, partnerships or other entities, like an estate or trust, you are required by the IRS to have an independent identification number. A Tax ID for estate or other legal entities is needed for tax purposes.
Each separate legal entity will need an EIN. The term legal entity is used to describe an entity that is able to engage in contracts and agreements, incur debt and pay the debt, and be held liable for independent actions.

Applying for an EIN

If you need an EIN, you can easily apply online. You will need to select the type of entity you have, be it a trust, estate, partnership, corporation, etc. Once the type of business is selected, you will need to fill out an application that focuses on this business type. After the application is completed, hit submit.
After submission, approval must be provided for the EIN. After you are approved, the number will be emailed to you. With this number, you have a method of identification, which can then be used to create a business bank account, a credit card for your entity or apply for loans.
The process is simple and helps you to save time in obtaining an EIN number that will be used for your business. 

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