What is a Federal Employer Identification Number?
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. [top] [Order Form] 12. How do I begin the process of incorporating my business? Once you have decided the type of business entity which is best for your business, articles of incorporation must be filed with the proper state agency together with certain fees. Form-A-Corp will provide all necessary services to ensure that the administrative processes are completed in the shortest period of time, with the highest degree of skill and efficiency. After
The “EIN” (also called tax ID number) is assigned to corporations and LLCs for taxation purposes. What a social security number is to an individual, the Federal Tax I.D. number is to the corporation. An EIN is needed to open a bank account and establish corporate credit. Back to the top Does the corporation have to issue stock? Yes. Shareholders are the owners of the corporation, if no stock shares are issued, then there are no legal owners of the corporation. Shares must be issued to those individuals who will be owners of the corporation. This is also the case even if only one individual will own the corporation. Back to the top What is Par Value? “Par value” is the minimum price for which each share may be sold. For a company with shares of “no par value,” the board of directors sets the minimum value for which a share may be sold. The original purpose for declaring par value was to determine the initial state filing fee. Now, many states do not base the filing fee on the minimum al
