Similar to an individual’s Social Security Number, a federal Employer Identification Number (EIN) identifies a business for tax purposes. Also called a Federal Tax ID, the EIN is issued by the Internal Revenue Service (IRS).
The IRS requires corporations, non-profits seeking tax exemption, Limited Liability Companies (LLCs) operating as partnerships, and all employers to obtain an EIN. This number is used for all tax filings the business makes. Banks, lenders, and business partners may also request your EIN.
An EIN and a Federal Tax Identification Number are the same, just different terminology for the same number.
Any business that hires employees, including sole proprietorships and single-member LLCs, must also apply for an EIN.
Banks may require an EIN in order to open a business checking account. Also, you may need to list your EIN on business license, permit, and tax registration applications.
We can obtain an EIN for you for just $89. You can order it together when you incorporate through our website (click get started now). You can also order the EIN separately here.