Tax Id for LLC

How to Get EIN Number for My LLC

Are you also one of those people who want to set up their own business in the United States? If so, then you should make yourself ready to go through the long procedure. You would first have to obtain an E2 visa and then an EIN number for setting up a business in the United States. If you have already gone through the first part, we will be explaining about the latter in detail in this blog. Those who are wondering about how to get EIN number for my LLC would have to read through the details very carefully.

In order to fully understand how to get EIN number for my LLC, understand about the basics of EIN number and procedure to obtain it.

If you need help getting an EIN number for your LLC please call us at 407-344-1012, or email us at info@freedomtaxfl.com.

Background of EIN Number

Before we take the plunge to explaining the procedure of obtaining the EIN number, you should first understand the background of EIN number. This number is one of the main forms of tax ID number. The tax ID numbers are the numbers given by the Internal Revenue Service (IRS) to the individuals who are living in the United States and have to fulfill the tax obligation.

Whether the individuals are residents or non-residents, they do have to pay off the taxes in the United States. In order to pay off the taxes, you need to obtain any of the tax ID numbers. These numbers are given on the basis of the status of the individuals. Basically, there are five types of tax ID numbers from which only three types of tax ID numbers are in active status. Check out the five types of tax ID numbers below.

  1. Individual Taxpayer Identification Number (ITIN)
  2. Social Security Number (SSN)
  3. Employer Identification Number (EIN)
  4. Preparer Taxpayer Identification Number (PTIN)
  5. Taxpayer Identification Number for US Adoptions (ATIN)

The first three types of tax ID numbers are in active status. If you are willing to set up your own business and pondering how to get EIN number for my LLC, then you need to understand about every tax ID number in detail. We will be explaining each type of tax ID number so that you are able to understand how to get EIN number for my LLC properly in our further section.

·       Individual Taxpayer Identification Number (ITIN)

This is one of the common tax ID numbers which is based on nine digits and is likely given to all those individuals who are temporary residents or cannot get the Social Security Number. Mostly, this number is given to the dependents of the foreign investors who are non-residents. Dependents are the ones who are linked with the foreign investors. When the investors in the United States want to call their families too, to live with them in the same state, these dependents are given the ITIN number in order to fulfill the tax obligation.

Additionally, these numbers do not provide the employment opportunities to the dependents. Also, these numbers do not make individuals eligible to set up their own business in the United States. These numbers give them the opportunity to pay off the taxes and enjoy the treaty benefits. In addition to the dependents, the ITIN number can also be issued by the IRS to those individuals who are considered as the temporary residents and their SSN number is under progress.

Those who want to obtain the ITIN number; they would have to fill the Form W-7 very carefully. Also, you can take help from the lawyer so that your application gets approved. The ITIN number will definitely grant you the ITIN number promptly on finding all the clear and genuine information from the Internal Revenue Service (IRS).

·       Social Security Number (SSN)

Another main type of tax ID number is the Social Security Number (SSN). These are the numbers that are given to those individuals who are willing to work as an employee in the United States. These numbers are provided by the Social Security Authority (SSA). Also, they are provided to the residents of the United States. If you are trying to understand how to get EIN number for my LLC, you should keep in mind that only permanent residents are provided with these numbers in order to fulfill the tax obligations. The SSN number is also given to the temporary residents but very rarely.

Holding these numbers give the opportunity to the residents to work anywhere they want in the United States. If you know anyone who is willing to work in the United States or are one of them then you need to obtain the SSN number. You can obtain the SSN number by filling the Form SS-5 properly and correctly. The information is checked by the United States Citizenship and Immigration Service (USCIS).

Once they find that all the information is correct and genuine, you will be granted with the SSN number promptly. In case, there is any incorrect information found in the form, the IRS will not accept the form. So, make sure that the information you put in is all valid and correct. If you are novice and are confused about filling it, you can hire a credible lawyer in this regard to avoid the chances of errors.

·       Employer Identification Number (EIN)

In order to properly understand how to get EIN number for my LLC, you should first understand about its basics. As the name implies, the employer identification number (EIN) is the tax ID number which is for those individuals who want to set up a business in the United States. While ITIN and SSN numbers are the ones which provide the work opportunity for the residents, the EIN numbers are the ones which let the individuals develop and direct a business.

These numbers are comprised of nine digits. The Employer Identification Number is unlike the ITIN and SSN numbers. It is provided to those individuals who want to reside in the United States and form their own business. So, all those who are looking forward to start a business, they can get the EIN number. If you are wondering about how to get EIN number for my LLC, then you need to know that you would have to fill Form SS-4.

This form is issued by the IRS. This number is issued to the individuals in order to fulfill the tax obligations and enjoy the treaty benefits. Despite the type of organization you want to develop and direct, you can get the EIN number and form it easily. The form SS-4 is a bit complicated and complex one. So, you can hire a lawyer and fill your form for the EIN number. The IRS will check about the authenticity of the information provided in the form. So, make sure that the information you fill is correct in order to get your EIN number promptly.

Here’s What You Need to Know About Limited Liability Company

In order to properly understand how to get EIN number for my LLC, you should first know about the basics of limited liability companies. The limited liability companies are one of the most common forms of companies that are formed by foreign investors in the United States. These companies are private companies owned by residents or foreign investors. Also, these are preferred most among other types of companies because the liability is limited for these companies.

These companies have the ability to secure the personal liability for debts and claims in the businesses. Additionally, they have the flexibility of dividing the profits and losses amongst the shareholders like in partnership. For instance, if a client sues your business, they will not be able to put hands on your personal assets due to the limited liability, securing your assets.

Advantages of Forming an LLC

If you want to discover how to get EIN number for my LLC, you should also understand the advantages of the limited liability company. Check out some of the benefits of an LLC.

  • These companies ensure about the protection of the owners due to the limited aspect of the liability, ensuring to secure the personal assets in case of lawsuits as well.
  • In this type of company, you will find less compliance on the state level as compared to other business structure.
  • The liability under the LLC comes under the pass through taxation, meaning that the shareholders can also file taxes.
  • There are no such big restrictions on the owners of the LLC.
  • These companies can also become a hierarchical organizational structure from a simple approach to a complex one.

Anyone living in the United States can form the limited liability company. But there is a complex and complicated procedure involved. If you are wondering about how to get EIN number for my LLC, keep reading this blog as we will be explaining the procedure in our further section.

In order to set up an LLC in the United States, the residents have to apply for the EIN number. Those who are undocumented immigrants, they would first have to obtain ITIN number and then have to apply for the EIN number. So, all those who are illegal immigrants and want to establish an LLC in United States, they should be ready to apply for both, ITIN and EIN number. The residents have a simple and straight-forward process while the illegal immigrants would have to go through different processes. Additionally, the illegal immigrants can go through really tough challenges in regards with the past stories about the aggrieved clientele towards them. These illegal immigrants do get recognition in the market by clients once they are set up.

How to Get EIN Number for My LLC? – Procedure to Get the EIN Number

If you are also interested in establishing a business in the United States and are asking how to get EIN number for my LLC, read this section carefully. Make sure that you complete each and every step carefully so that you are able to get the EIN number promptly.

·       Step # 1: Hire a Lawyer

The first thing that you should do for successfully getting the EIN number is to hire a credible lawyer. This is a wise option for all those individuals who are novice or have never applied for the EIN number before. These lawyers are well-versed and know how to tackle and help you getting the EIN number seamlessly. These lawyers will act as the third party representative for your business.

·       Step # 2: Preparation of Application

Now that you have hired the lawyer, it is time to prepare the application for the EIN number. As mentioned above, the EIN number can be obtained filling the Form SS-5. Generally, the form has description with it, but the lawyers can help simplifying the preparation of application and fill it accordingly.

·       Step # 3: Sending the Application

Now that you have filled the application form SS-5, you should not forget to get it proof-read by your lawyer. Make sure that there are no mistakes in the first attempt so that you receive the EIN number. In case, there are any mistakes found or any of the information presented in the document is incorrect or not genuine, your application would be rejected.

After filling the form, you have to send the application form to the Internal Revenue Service (IRS). You can send the application form in many ways such as online, mail, telephone, fax etc. But nowadays, people likely prefer sending the application form to the IRS online. If you are mailing or using fax for your application, you can send it to Internal Revenue Service, EIN Operation, Cincinnati, OH 45999.

·       Step # 4: Getting the EIN Number in Hands

Once the IRS finds about the authenticity of the information, your business lawyer will then receive the Employer Identification Number (EIN) for your business. All those asking how to get EIN number for my LLC hopefully will now be able to get one successfully.

How to Get EIN Number for My LLC? – Different Ways to Obtain the EIN Number

As mentioned in step 2, there are several ways get the EIN number. Some of them are traditional while some of them are advance. People mostly use the online approach of getting the EIN number for the limited liability company. Here are different ways to obtain the EIN number.

·       Applying Online

This is one of the common methods of applying for the EIN number. Mostly used by people nowadays, this application process for the EIN number is the common one and simplest one. All you need to do is to visit the IRS website and download the form. Once the application form is completed, the information is checked during the online session.

Once everything is found correct and genuine, the EIN number is issued to you immediately. This application process is for all types of entities located in the United States. In order to use the online application form, all applicants need to have an authentic tax ID number, SSN or ITIN number.

·       Applying by Mail

Application by mail is one of the traditional methods to apply for the EIN number. Normally, the EIN application by mail is for four weeks. You can simply get the SS-4 form printed and fill all the information required in it. You can then mail the EIN application form to the IRS head office.

Those who are living in the District of Columbia can send their application form to Internal Revenue Service, EIN Operation, Cincinnati, OH 45999. The ones who are living outside can send their applications to Internal Revenue Service, EIN International Operation, Cincinnati, OH.

·       Applying by Telephone

In addition to applying by mail and online, applying by telephone is also one of the best ways for all those who are unable to fill the form on their own. The International applicants can call 267-941-1099 at any time from 6 o’clock in the morning until 11 o’clock at night from Monday through Friday. The IRS representative will take the call and help you filling the Form SS-4 accurately by asking you questions in the form.

Final Thought

Now that you know the procedure and different ways to get the EIN number for forming the LLC, we hope you will be able to obtain the EIN number successfully. Good luck!

If you need help getting an EIN number for your LLC please call us at 407-344-1012, or email us at info@freedomtaxfl.com.

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