Tax Id for LLC

Get an EIN Number for an LLC

The United States is considered to be the golden state among all the others as it provides countless opportunities and benefits to business owners. Also, many famous brands have their headquarters located in the United States, such as Ford and Apple Inc., to name a few. Since the country offers several benefits and opportunities to business owners, many foreign individuals wish to establish, develop, and direct their business in the United States.

To set up and establish a business in the United States, one has to get an EIN number for an LLC. If you are pondering over how to get an EIN number for an LLC, you will find all the information to get an EIN number for an LLC in this blog. Firstly, you have to reside in the United States to operate the business as well as obtain the E2 visa for doing so. If you want to know more about how to get an EIN number for an LLC, read the information mentioned below carefully.

Let us help you get an EIN for your LLC business. Call us at 407-344-1012, or email us at info@freedomtaxfl.com.

An EIN Number is One of the Types of Tax ID Numbers

One of the essential requirements to reside in the United States is to pay your taxes. Whether you are an employed individual in a firm or are running your own business, you need to pay your taxes in order to qualify for tax returns in the United States. To help you out with the payment of taxes, you need to get any of the tax ID numbers. As soon as you get your E2 visa to get employment or start your own business in the United States, you need to get an EIN number for an LLC, or an ITIN or SSN number.

Generally, the tax ID numbers are the numbers that permit you to pay your taxes and fulfill your tax obligations. If you want to know how to get an EIN number for an LLC, you first need to understand what tax ID numbers really are. There are 5 types of Tax ID numbers; 2 are no longer in effect while 3 numbers are currently active, namely the ITIN, SSN, and EIN numbers.

  • Social Security Numbers (SSNs)
  • Individual Taxpayer Identification Number (ITIN)
  • Employer Identification Number (EIN)
  • Taxpayer Identification Number for US Adoptions (ATIN)
  • Preparer Taxpayer Identification Number (PTIN)

Those wishing to reside in the United States need to understand that they have to obtain one of the tax ID numbers; either an ITIN, SSN or EIN Number. If you want to know more reasons to why you are required to get an EIN number for an LLC, check out the 2 main reasons below.

  • You are required to have one of the tax ID numbers when you need to claim treaty benefits
  • Also, you require one when you have to file returns

If you have to fulfill any of the two obligations, you do require a tax ID number. Before we go into the details of exploring how to get an EIN number for an LLC, let’s figure out properly what ITIN, SSN, and EIN numbers really are.

1.    Social Security Number (SSN)

One of the main types of tax ID numbers is the Social Security Number (SSN). The SSN numbers are the numbers that are provided to those individuals who are willing to work as an employee in the United States and have obtained an E2 visa for employment. Additionally, these numbers are provided to the individuals by the Social Security Authority (SSA). If you are thinking about how to get an EIN number for an LLC, you need to keep in mind that permanent residents are granted with the Social Security Numbers while the application of temporary residents may be subjected to rejection many times before finally being approved. Also, these SSN number permit the residents to work in the United States.

If you are one of those people who want to obtain an SSN number, you need to fill SS-5 form correctly. Once the United States Citizenship and Immigration Service (USCIS) find that all the information provided to them is genuine and correct, you will be able to get your Social Security Number (SSN) promptly. But in case you fill out incorrect information or do not provide all the required documents, there are chances that your application for the SSN number will get rejected. So, ensure to hire a credible lawyer so that they can help you fill the SS-5 form properly and ensure that you get the SSN number promptly.

2.    Individual Taxpayer Identification Number (ITIN)

Another most important and common type of tax ID number is the Individual Taxpayer Identification Number (ITIN). This is also one of the types of tax ID number which includes 9 digits and is granted to all those who are dependent individuals. Normally, it is granted to those individuals who are somehow linked to foreign investors or are the family members of the foreign investor. Since a foreign investor has to reside in the United States for employment or business purposes, they may think of calling their family too. As a result, the members of the family have to get an ITIN number to fulfill their tax obligations.

An ITIN number is unlike an SSN number as these numbers do not provide employment opportunities to the dependents and do not make them eligible to work or start up their own business in the United States. All they can do is to enjoy the treaty benefits and pay off the taxes. Besides the dependents, the ITIN numbers are also issued to those people who cannot get SSN numbers or are not eligible for one, such as non-residents or temporary residents. If you wish to obtain an ITIN number, you need to fill the W-form carefully and properly by taking help from the lawyer so that you do not face any rejections. On finding all the genuine and clear information, the Internal Revenue Service (IRS) will surely grant you the ITIN number promptly.

3.    Employer Identification Number (EIN)

Apart from the 2 main tax ID numbers, the EIN number is the 3rd common type of tax ID number which is also comprises of 9 digits. In order to fully understand how to get an EIN number for an LLC, you need to first understand what an EIN number really is. The Employer Identification Number is unlike a Social Security Number (SSN) and the Individual Taxpayer Identification Number (ITIN) as it is not provided to individuals who are looking for employment. Instead, it is provided to those individuals who are willing to set up, develop, and direct business in the United States. Those who wish to become an employer in the United States are eligible to get an Employer Identification Number (EIN).

If you are pondering over how to get an EIN number for an LLC, you probably may be interested in forming an LLC in the United States. This form of tax ID number is also issued by the Internal Revenue Service (IRS) to the employers and business entities to file their taxes, gain treaty benefits, and get returns. No matter what kind of organization you are willing to develop and direct, be it a sole proprietorship business corporation, a partnership, or a nonprofit organization, you do have to obtain an EIN number. So, all those who are thinking of how to get an EIN number for an LLC should remember that it is a bit of a complicated procedure.

Just like you have to fill a form for getting ITIN and SSN numbers, you are also required to fill a form for getting an EIN number; that is Form 1041. On finding all the correct and genuine information, the IRS will definitely grant you the EIN number on time and as soon as possible.

Let us help you get an EIN for your LLC business. Call us at 407-344-1012, or email us at info@freedomtaxfl.com.

Do You Really Need an EIN Number?

If you want to get an EIN number for an LLC, you should first ask yourself if you really need it. Often, people do not really understand whether they require the EIN number or not. If you are confused about obtaining EIN numbers, you need to understand the reasons below.

Whether you are developing and directing a small or big business, you have to get an EIN number for an LLC or other types of business. The size of the business does not matter; you have to obtain it no matter if your company is small or large. Also, if you have employees working in your organization on a part-time or full-time basis, you need to obtain an EIN number. To fully understand whether or not you are required to get an EIN number for an LLC for your other business, you need to read the following important clauses;

  • You are required to get an EIN number if you are paying up to $600 to your employees.
  • You are required to get an EIN number for an LLC if you withhold taxes on income from non-residents or aliens.
  • You are required to obtain an EIN number if you are directing a partnership, corporation, or a sole proprietorship business.
  • If you need to file for excise duty, alcohol, tobacco, and firearms.
  • If you have made a trusts organization, real estate mortgage investment conduit, estates, farmer’s cooperatives, or a non-profit organization.
  • You require an EIN number when you have made a Keogh plan for your business.

If you ticked yes on any of the things mentioned above, you are required to get an EIN number for an LLC or your business. Though there are certain businesses which do not require an EIN number, most of them do require it. So, depending upon these requirements, you can easily decide upon whether or not you require an EIN number for your business or not. Now that you have understood that who requires an EIN number, you may also want to know who does not require an EIN number. This leads us to our next section.

Who are the Ones Who Do Not Require an EIN Number?

There is no doubt that getting an EIN number is very essential for your business. However, some businesses do not require one. Those who own a sole proprietorship business do not need to get an EIN number for an LLC. Though we have mentioned above that a sole proprietorship also requires an EIN number, what we meant by this was that a sole proprietorship business that hires employees is required to have an EIN number while one which does not have any employees and operate alone, like a one-man show, are not required to obtain an EIN number as the IRS does not ask for it.

An EIN Number Serves as a Helping Hand for Businesses

If you want to get an EIN number for an LLC, you should also understand how an EIN number can be of help to you and to your business. While some of you may know the purpose of an EIN number and what it really does, some of you who are foreigners may not really know what it can do for you and your business. That said, you should not forget the prime goal of an EIN number. On top of helping you determine your personal data and personal finances, there are other important things an EIN number can help you with;

  • You can open up a bank account when you get an EIN number for an LLC.
  • You can also apply for a credit card when you get an EIN number for an LLC.
  • Also, you would require one to deal with your contractors.
  • Obtaining an EIN number can help you develop and direct the business successfully.
  • Having an EIN number can reduce the chances of thefts and ensure privacy.

Limited Liability Companies and an EIN Number

If you want to learn the core of how to get an EIN number for an LLC, you need to understand that Limited Liability Companies are of several types. For forming all those types of Limited Liability Companies, you are required to get an EIN number for an LLC. For example, if you are operating an LLC and you have multiple employees, you have to apply for an EIN number to get it for your LLC. If you are confused regarding getting an EIN number for your LLC, check out the types below for which you are required to get an EIN number for an LLC.

  • A Limited Liability Company Taxed as a Corporation
  • A Single Member Limited Liability Company with no employees
  • A Single member Limited Liability Company with employees
  • A Multiple member Limited liability Company

Do You Want to Get an EIN Number for an LLC? – Explore the Entire Procedure Here

Many of you may be interested in developing and directing your own business in the United States. This is why many people are looking for ways to get an EIN number for an LLC. If you are also one of those individuals who wish to get an EIN number for an LLC, you need to read the following procedure to successfully get an EIN number for an LLC.

·      Step # 1: A Credible Lawyer

The first step to successfully get an EIN number for an LLC is to hire a credible lawyer. They will act as a third party representative on behalf of your business.

·      Step # 2: Application Preparation

The lawyer you have hired will prepare the application for your business. They will fill Form 1041 appropriately or make you fill it accordingly for getting your Employer Identification Number (EIN).

·      Step # 3: Sending the Application

Now that you have successfully filled Form 1041, the next step is to send it to the IRS. Though there are many ways to do this, such as online application, fax, mail, or telephone, your lawyer will find the most appropriate way to send the application and form to the Internal Revenue Service (IRS).

·      Step # 4: Receiving the EIN Number

As soon as the Internal Revenue Service (IRS) receives the information and checks if all the provided information is genuine and correct, your business lawyer will receive the Employer Identification Number (EIN) for their LLC or other business on the same day.

Final Word

Now that you know the process behind how to get an EIN number for an LLC or any other business requiring it, we hope you will be able to go through the process successfully. However, you should understand that you need to hire a credible and professional lawyer who can help you get an EIN number for an LLC.

All in all, obtaining an EIN number for LLCs or any of your businesses has now become a necessity for developing and directing operations in the United States and is no more considered as an option. Therefore, if you are a foreign investor and really want to establish an LLC in the United States, you should obtain an EIN number by following the procedure provided in this blog. Good Luck!

Let us help you get an EIN for your LLC business. Call us at 407-344-1012, or email us at info@freedomtaxfl.com.

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