What is a Federal Employer Identification Number?
A Federal Tax Identification Number (also known as an Employer Identification Number, or “EIN”) is used to identify a business entity for taxation purposes. What a social security number is to an individual, the Federal Tax I.D. Number is to the corporation. Generally, any corporation doing business within the U.S. is required to have an EIN. In fact, the EIN is necessary when filing tax returns and for establishing bank accounts. A corporation can receive an EIN by completing and submitting IRS Form SS-4. However, you can have NCP save you time and paperwork by completing and submitting the necessary EIN form on your behalf. In which state should I incorporate my business? A corporation is not required to incorporate in the state in which it operates; therefore you can incorporate in any of the 50 states. There are many considerations involved in deciding where to incorporate, including the cost of incorporation, tax laws, and general laws governing the actions and liabilities of corp
If you plan on opening a bank account under your corporate name, most banks will require that your corporation have a Federal Employers Identification Number. A Federal Tax Identification Number (also known as an “EIN Number” ) is a number assigned to a corporation or L.L.C. by the Federal Government for purposes of taxation. The Federal Tax ID Number is to a corporation or L.L.C. as a Social Security Number is to an individual. Most banks require that a corporation or L.L.C. obtain a Federal Tax Identification Number as a prerequisite to opening a bank account regardless of whether the company will have employees.
Once the corporation has been formed and is ready to do business, it is the time to apply for a federal employer identification number (EIN). Generally, any corporation doing business within the U.S. is required to have an EIN. In fact, the EIN is necessary when filing tax returns and for establishing bank accounts. A corporation can receive an EIN by completing and submitting IRS Form SS-4. However, you can have Form-A-Corp save you this tedious and time consuming paperwork by completing and submitting the necessary EIN form on your behalf.
If you plan on opening a bank account under your corporate name, most banks will require that your corporation have a Federal Employers Identification Number. A Federal Tax Identification Number (also known as a “95 Number” or “EIN Number”) is a number assigned to a corporation or L.L.C. by the Federal Government for purposes of taxation. The Federal Tax ID Number is to a corporation or L.L.C. as a Social Security Number is to an individual. Most banks require that a corporation or L.L.C. obtain a Federal Tax Identification Number as a prerequisite to opening a bank account regardless of whether the company will have employees. MyCorporation.com can prepare your Federal Tax Identification Number Application (IRS Form SS4) at your request. Once you receive the prepared application from our office, you may contact the I.R.S. with the completed form and obtain the actual “95 Number” over the telephone in just minutes!
