Find your entity type below.
I need an EIN for a Sole Proprietorship.
The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts. A sole proprietorship can operate under the name of its owner or it can do business under the business name.I need an EIN for a LLC (Limited Liability Company).
The Internal Revenue Service (IRS) requires all Limited Liability Companies with employees to obtain tax identification numbers, also known as employee identification numbers (IRS LLC EIN
). An EIN for a LLC is like a social security number for a business. In addition, a limited liability company is required to include anLLC EIN
on any application to open an account with any banking or thrift institution under the know your client financial institution requirements.I need an EIN for an Estate.
At the point when an Estate produces income of $600 or more, the Estate must file an income tax return. The Estate income is reported to the IRS under the Estate’s Tax ID Number or EIN, also known as an Employer Identification Number.
The IRS requires that an Estate have its own Tax ID Number, Employer Identification Number (EIN). An Estate and an Individual become different tax entities after the time of death. The two entities can not share the social security number of the deceased. The Estate needs its own Estate identification number.
An estate is the net worth of a person at any point in time alive or dead. It is the sum of a person’s assets – legal rights, interests and entitlements to property of any kind – less all liabilities at that time. The issue is of special legal significance on a question of bankruptcy and death of the person. An executor, an administrator, court appointed individual or individual designated by the decedent’s will may apply for the
estate EIN number
with the IRS. The executor may also wish to establish a bank account in the name of the estate and the banking or thrift institution will require the
estate tax ID number
to open up the account. Our service can assist you with the
estate EIN application
process.
If you as the executor, personal representative or administrator will be filing Form 1041 and/or Form 706, you must
obtain a federal employer identification number (EIN) for the estate.
I need an EIN for a Trust.
A Trust is a legal relationship in which one person, called the trustee, holds property for the benefit of another person, called the beneficiary.
A trust is traditionally used for minimizing estate taxes and can offer other benefits as part of a well-crafted estate plan. A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. Trusts can be arranged in many ways and can specify exactly how and when the assets pass to the beneficiaries.
Since trusts usually avoid probate, your beneficiaries may gain access to these assets more quickly than they might to assets that are transferred using a will. Additionally, if it is an irrevocable trust, it may not be considered part of the taxable estate, so fewer taxes may be due upon your death.
Assets in a trust may also be able to pass outside of probate, saving time, court fees, and potentially reducing estate taxes as well.
I need an EIN for a Corporation.
A Corporation is a more complex business structure. A corporation has certain rights, privileges, and liabilities beyond those of an individual. Doing business as a corporation may yield tax or financial benefits, but these can be offset by other considerations, such as increased licensing fees or decreased personal control. Corporations may be formed for profit or nonprofit purposes.
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I need an EIN for a S-Corporation.
An S Corporation is a corporation that has elected to be taxed as a flow-through entity (similar to an LLC or partnership) under subchapter S of the Internal Revenue Code. There is no federal income tax levied at the corporate level, unlike C Corporations which are taxed at both the corporate level and the individual level. A corporation must qualify as a “small business corporation” to make a valid election to be an S corporation. A small business corporation is a corporation that:- is a domestic corporation;
- has 100 or fewer shareholders;
- has only individuals (other than nonresident aliens), estates, or certain qualifying trusts, pension plans and exempt organizations as shareholders;
- has only one class of stock outstanding (although differences in voting rights are permissible);
- is not an ineligible corporation (i.e. certain financial institutions, insurance companies, and domestic international sales corporations).
I need an EIN for a Non-Profit.
A Nonprofit Corporation is a legal entity and is typically run to further an ideal or goal rather than in the interests of profit. Many nonprofits serve the public interest, but some engage in private sector activities. Charitable activities may require additional registration. Contact the Office of the Secretary of State in your state for more information.
A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. Like for-profit corporations, nonprofit corporations must file a statement of corporate purpose with the Secretary of State and pay a fee, create articles of incorporation, conduct regular meetings, and fulfill other obligations to achieve and maintain corporate status.
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I need an EIN for a Personal Service Corporation.
A corporation that is created for the purpose of providing personal services to individuals or groups. To be considered a personal-service corporation by the IRS, the employee-owners must perform at least 20% of the personal services themselves. The employee-owners must also own at least 10% of the outstanding stock of the personal-service corporation on the last day of the initial one-year testing period. Qualified activities of the taxpayer, as listed in the Internal Revenue Code, that involve the performance of services in the fields of:- health
- law
- engineering
- architecture
- accounting
- actuarial science
- performing arts
- consulting