EIN Faqs

EIN stands for Employer Identification Number. It is also commonly referred to as a Federal Tax ID Number.

The Employer Identification Number (EIN) is needed:

  • When starting a Corporation, LLC or Partnership.
  • To open a business bank account.
  • Hire & pay employees.
  • File taxes.

Sole Proprietors are required to get a new EIN number if they want to start a corporation or LLC.

Generally, if an entity does not obtain an EIN number they will not be able to:

  • To open a business bank account.
  • Hire & pay employees.
  • File taxes properly.