Federal Tax ID (EIN)
What is an EIN?
EIN stands for Employer Identification Number (or Federal Tax ID number) and is a unique 9-digit code assigned to your company/business by the IRS. An employer identification number is extremely essential for any business.
State-level Required Paperwork
Although this is not the case for every state, certain states require that business obtain not only a Federal Tax ID number but also a State Tax ID number. Get in touch with us and we can help you to take care of any requirements your state may have when it comes to EIN's.
Reasons to Get an EIN
Before your business can open a bank account or even hire any employees, one must obtain an EIN. An EIN is also required in order to stream-line certain IRS imposed tax payments. A Federal Tax ID Number (EIN) can be thought of as your companies social security number.
Identity Theft Protection
Some sole proprietors may find it beneficial to obtain a Federal Tax ID number in order to protect themselves from Identity theft by keeping their own social security numbers private.