How to get ein for my LLC [Expert Approved]



Last updated : Sept 26, 2022
Written by : Tanja Folker
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How to get ein for my LLC

Should I get EIN for LLC?

An LLC will need an EIN if it has any employees or if it will be required to file any of the excise tax forms listed below. Most new single-member LLCs classified as disregarded entities will need to obtain an EIN. An LLC applies for an EIN by filing Form SS-4, Application for Employer Identification Number.

How can I get my own EIN?

  1. Online through the IRS website. Applying for an EIN online is the quickest method for obtaining one.
  2. By filling out Form SS-4. The form is a single page and can be mailed or faxed to the IRS.
  3. By phone.
  4. With the help of your accountant or banker.

Can I get my EIN online?

Apply Online The Internet EIN application is the preferred method for customers to apply for and obtain an EIN. Once the application is completed, the information is validated during the online session, and an EIN is issued immediately.

How do I add an EIN to my LLC?

  1. Online application: You can submit an online application for an EIN directly through the IRS website.
  2. Application by fax: You can apply for an EIN via fax, by sending Form SS-4 (PDF) to the appropriate fax number.
  3. Application by mail: You can also mail in a completed Form SS-4.

How does an LLC avoid paying taxes?

A general Corporation making a Subchapter “S” Election or an LLC with or without a Subchapter S Election pays no federal tax on its taxable income and no employment taxes on its distributions to stockholders.

What can I use my EIN number for?

This EIN is your permanent number and can be used immediately for most of your business needs, including: Opening a bank account. Applying for business licenses. Filing a tax return by mail.

Is EIN the same as tax ID?

An Employer Identification Number (EIN) is also known as a federal tax identification number, and is used to identify a business entity. It is also used by estates and trusts which have income which is required to be reported on Form 1041, U.S. Income Tax Return for Estates and Trusts.

How long does it take to get EIN?

If you do not include a return fax number, it will take about two weeks. If you apply by mail, send your completed Form SS-4PDF at least four to five weeks before you need your EIN to file a return or make a deposit.

Is business ID same as EIN?

If you operate a business the IRS may require you to obtain an Employee Identification Number (EIN), which is also referred to as your business tax ID number. Each EIN is unique in the same way that your Social Security number is.

Do EIN numbers expire?

Employer Identification Number (EIN) It does not expire and, once an EIN has been given to an entity, it is never issued again. NOTE: A sole proprietor without employees, may use their Social Security Number instead of an EIN. This is the only exception. Apply for an EIN from the IRS either online, by fax, or by mail.

Why do I need an EIN number?

Your Employer Identification Number (EIN) is your federal tax ID. You need it to pay federal taxes, hire employees, open a bank account, and apply for business licenses and permits. It's free to apply for an EIN, and you should do it right after you register your business.

What questions are asked when applying for an EIN?

  • Legal name of the business.
  • Business address.
  • Type of business entity.
  • State where your business is incorporated.
  • Reason for applying for an EIN.
  • Date the business was started or acquired.
  • Closing month of your business accounting year.

Do I need an EIN to open a business bank account?

You can open a business bank account once you've gotten your federal EIN. Most business bank accounts offer perks that don't come with a standard personal bank account. Protection. Business banking offers limited personal liability protection by keeping your business funds separate from your personal funds.

Do I need a separate EIN for each LLC?

Each one will require a separate, unique EIN. You cannot use the same EIN for multiple businesses, even if they are owned by the same person. EINs are not limited, so you may apply for as many as you need. You are dividing your business into separate entities.

Can I use my sole proprietor EIN for my LLC?

“If you have an existing EIN as a sole proprietor and become a sole owner of a Limited Liability Company (LLC) that has employees or needs to file an excise or pension plan tax return, you need to get a separate EIN for the LLC to file employment taxes.”

What can my LLC write off?

What expenses can you write off as an LLC? There is a long list of expenses that you can deduct as an LLC. Some of the main operating costs that can be deducted include startup costs, supplies, business taxes, office costs, salaries, travel costs, and rent costs.

How much can an LLC write off?

Special Rule for One-Person LLCs If your LLC has only one member and your startup costs are $5,000 or less, you may deduct $5,000 in organizational expenses in your first year. If your costs exceed this amount, though, you have to capitalize all of these expenses and they are not deductible until you dissolve your LLC.

Is it better to be self employed or LLC?

You can't avoid self-employment taxes entirely, but forming a corporation or an LLC could save you thousands of dollars every year. If you form an LLC, people can only sue you for its assets, while your personal assets stay protected. You can have your LLC taxed as an S Corporation to avoid self-employment taxes.

Is my EIN linked to my SSN?

An EIN is not linked or associated with your SSN. As such, it provides additional personal privacy protection by using a different number than your SSN for reporting purposes. You can easily apply online for the EIN through the IRS. In addition to privacy, there are other advantages to obtain an EIN.

Does having an EIN affect taxes?

Business taxes are, of course, a reason to have an EIN. The ID number makes it easier to file federal and state taxes, quarterly or annually. Some small businesses and sole proprietorships use personal accounts for their business and taxes.


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How to get ein for my LLC


Comment by Launa Martling

hey everybody i'm destiny and i also go by the traveling hair boss so if you haven't already go ahead and subscribe to my channel because my channel is about building our businesses having multiple side hustles and also self-care so if those topics interest you make sure you go ahead and subscribe and as you can already tell by today's thumbnail this video is going to be about your ein which is your employer identification number also known as your federal tax id number so i'm going to be telling you what exactly a ein number is reasons to get one and also showing you step by step how to apply for one for free so go ahead and stay tuned so what exactly is the ein so ein is your employer identification number which is also your federal tax id number a ein number is a nine digit number that the irs created to separate businesses from each other so it's very similar which is actually pretty much the same thing as a social security number for your business and the reasons you will want to get an ein number is one you plan on having employees so if you are a single member llc or a sole proprietor you might not need one but i'm going to tell you reasons that even people who do have a single member llc and sole proprietor decide to get one one of the main reasons is to separate your finances so you're going to want to separate your business accounts from your personal accounts and you'll do that with your ein number so with your ein number you'll be able to open up a business checking account and you'll use that to keep your finances separate from your personal account so the second reason businesses apply for their ein number is to establish business credit that way when you're applying for loans for your business it won't be in your personal name it'll be in your business name and it won't require your social security number because i know a lot of places like especially like what what's going on now with the payment protection programs they're requiring you to have your business bank account and also your ein number so we're going to go on to me actually showing you how to set it up step by step and before i switch over my computer screen i did want to say the ein or anytime you're applying for it it is free through irs.gov and i've been seeing a lot of people go through legalzoom or someone else and they're charging them a couple hundred dollars to apply for something that's free so for my new business owners you want to pay close attention to this because it could save you a couple hundred dollars so i'm going to go ahead and flip the screen around and we're going to walk through it step by step so we're going to pull up the home page of irs.gov and we're going to go ahead and follow the prompts we're going to go to employer id number and then this is just giving you some basic information that you can choose about your ein and then at the bottom we're gonna go ahead and select apply for ein online so this is just some basic information and then we're going to click apply online now and you can exit that out and this and then this is just some more basic information that they're providing you and we're going to begin our application and it gives you all the different ein options that you can choose and since i have a llc i'm going to go ahead and select the limited liability company and click continue and then this is just giving you information about your llc if you have time to go ahead and read through that and then once you're done go ahead and select continue how many members does your llc have mines is one and then i'm going to go ahead and select the state that i'm located in which is michigan and this is just confirming your selection then you're going to go ahead and select continue next you're going to choose why you're requesting the ein and for me it's because i started a new business but it does give you other options so i'm going to go ahead and select that and then click continue and then you'll start filling out your personal information and this information is self-explanatory so i'm going to go ahead and enter mine in and of course i'm going to block out my social security number and then once i'm done i'm going to select continue and then i'm going to fill out my address which i'm going to enter my store address and my store phone number and once all of this information is entered we're going to go ahead and select continue okay now you're gonna just put in your legal name is exactly how it appears on your llc and for mines is destiny adams and company llc you're gonna choose your location and then your llc start date and from here you're just going to answer the questions as it applies to your business and since none of these apply to mine i'm going to go ahead and answer no for all of them and then you're going to choose the type of business that you have and for me mines is retail but for whatever business you have you'll go through and find it in the list and then select continue and this is self-explanatory since i have retail now i'm going to select receive letter online since i wanted it right away but you do have the option to receive it by mail so i hope you found this video to be extremely helpful today and it could potentially save you a couple hundred dollars depending on who you're going through to actually set up your ein number because this is a quick and easy way to do it for free so if you have any comments drop them in the comment section below or if you have any other suggestions for any videos that you want to see in the future you can also drop that in the comment section below don't forget to give this video a thumbs up and also subscribe to my channel you can follow me on my social media pages my personal account is i am destiny adams on facebook social media snapchat and instagram or my business page which is the traveling hair boss and we're on facebook and instagram so yeah stay tuned for the next video thank you you


Thanks for your comment Launa Martling, have a nice day.
- Tanja Folker, Staff Member


Comment by Freeman

hi my name is erica easter and i'm an attorney at e-minutes at e-minutes we form business entities and then we handle the ongoing compliance matters for companies today i'm going to show you how to get an ein number on the irs's website you'll need this ein for banking purposes you'll provide it to vendors you'll also use it to pay your tax and file tax returns for your company so let's get started the first step is to go to the irs's website is irs.gov you can then go to the search field and put in fein and it should take you to the ein assistant online so click on that link once you're here there's some direction to determine your eligibility and understand the process you should read through it carefully before proceeding and once you have an understanding you'll click apply online now next there's a warning about being an authorized user um any individual can use this but you should certainly read through it to make sure you're in compliance with the irs's rules and then you can clear that simply by clicking ok um you should also read through the instructions on this page but once you're ready to go you can click begin application so the first step is to pick which type of entity you'll be forming and today just for demonstration purposes we're going to choose a corporation this includes s corporations and c corporations next it will ask you to differentiate between the type of corporation what this step does it gives the irs an idea of what to anticipate in terms of your tax returns so if we select s-corporation which we'll do just for example purposes this doesn't make it that your company will be text as an s corporation you still need to file an s election and get that accepted by the irs before your company will be taxed as an s corporation this just merely gives the irs the idea that eventually your intention is to be taxed as an s corporation i'm gonna hit continue um next it's going to start asking us some information regarding the s corporation this also gives you a little bit of a review about what an s corporation is you should read carefully through this likewise it's really important to discuss the tax election with your accountant to make sure that it's best for your personal tax situation um so then we're going to choose why we're getting an ein today in most cases if you're forming a new company you're just going to say started a new business and so now this is going to be the responsible party the responsible party needs to be someone who has management and control within the company so an officer would work i'm just for purposes of this i'm going to use my information it is really important that this information matches the irs's records otherwise you won't be able to proceed past this step you'll also have to select who you are you can put i am the president um the company ceo or other corporate officer what this does it will also at the end of the process allow you to get the confirmation of ein letter immediately the next step is to put in the address and just for purposes of the example i'm going to use our office address here and i don't need that if your mailing address is different you'll enter it you'll just toggle the yes button and a new field will pop up on the next page but for this example i'm going to keep the mailing and the principal place of business the same you can't use any punctuation in this either so it's important that you enter it without any punctuation commas periods um or anything like that next we're going to put in the name of the company and so i'm just going to put in a test i'm just going to say test test one two three quart um and again you can't have punctuation in this in this um interface so i'm gonna erase the period at the end and then we're gonna do the county where the s corp is located we're going to just say los angeles and california and then because sometimes the state of or can't or excuse me the jurisdiction where the company is located is not the same of incorporation it just asks you to confirm for this example we're going to say it's california as well and the date the the business started i'm going to select the current month which happens to be august 2021 and hit continue um and now it's going to ask you a series of questions does your business own a highway motor vehicle with a taxable growth weight of 55 000 pounds or more i'm going to say no does your business involve gambling or wagering no um does the business form 720 no does your business sell or manufacture alcohol tobacco or firearms no do you have or do you expect to have any employees with w-2 income in the next 12 months and i'm going to say no of course you should apply whichever of these apply to your business you should make sure it's checked off in the appropriate manner next it's going to ask you for more specifics about the um purpose of the company we always just select other um at our firm and then move on and then other again and put in a specific so we'll just put in entertainment um the majority of our clients tend to be in the entertainment field so we put it in there it just needs to be a description of what type of business the company is doing it doesn't have to be very specific but it should be correct okay and the last thing we're going to do is if we want to receive the letter online or by mail i highly recommend doing it online because you get it instantaneously if you do it by mail the irs always has delays and it can take a month two months and you want to be able to use your an as soon as possible so then it's going to give me a recap of all the information i submitted here um and if it looks correct you're going to hit submit what will happen is the a letter will then be able to download and it also have the assignment of the ein number you should save that letter because you cannot get a new one easily from the irs um you'd have to call and request a duplicate which you could be on hold for quite some time trying to get through to a service person there anyway thanks so much for watching today and we look forward to working with you soon thanks bye


Thanks Freeman your participation is very much appreciated
- Tanja Folker


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