Opening a business bank account
The paperwork for opening a bank account and applying for a business loan both require an EIN, and are valuable assets and options for your C-Corp
What is a C-Corp?
A C-Corporation (C-Corp) is a type of ownership structure where the business and its owners are considered completely separate entities for liability and tax purposes. This business structure allows the greatest amount of personal liability protection while also making it easier to raise funds. In exchange for double taxation, business owners can reinvest the profits into the company at a lower corporate tax rate. Currently, the vast majority of C-Corps are publicly traded companies.
Why Do You Need an EIN for a C-Corp?
All C-Corps are required to obtain an Employer Identification Number (EIN) federal tax purposes. This federal tax ID number allows you to legally operate and carry out fundamental business tasks, including:
Building your credit score
Establishing a good credit score for your corporation will improve your chances of securing a loan and other financial advancements
Hiring employees
Specifically, an EIN allows you to set up payroll and employee benefits
Paying taxes
This is a necessary part of legally owning and operating any business
Opening a business bank account
The paperwork for opening a bank account and applying for a business loan both require an EIN, and are valuable assets and options for your C-Corp
Building your credit score
Establishing a good credit score for your corporation will improve your chances of securing a loan and other financial advancements
Hiring employees
Specifically, an EIN allows you to set up payroll and employee benefits
Paying taxes
This is a necessary part of legally owning and operating any business
Benefits of an EIN for a C-Corp
There are several reasons why businesses would want to apply for C-Corp EIN, including:- It allows you to operate legally and avoid paying fines
- A C-Corp EIN lets you enter into contracts, incur and pay off debts, and acquire credit
- Your employer ID number allows you to establish a Keogh plan
Why GOV+
Applying for an EIN number has never been easier. Skip the hassle of the IRS form and register your business entity using our online platform. GOV+ is the fastest and easiest way to apply for your C-Corp EIN online. Thanks to our streamlined process, cloud-based technology, and amazing customer service team, filing for an employer ID number is an absolute breeze. Simply fill out a single submission form, and we’ll handle everything else!
Ultra-quick customer service
Get fast, accurate answers to all of your questions at every step. With average 30 second hold times and efficient conversations, you’ll be on your way in no time.
Real-time status updates
No more waiting and wondering about your form’s status. GOV+ offers instant updates and customizable alerts, from the moment of filing to final outcome.
Tailored Transactions
GOV+ technology eliminates needless busywork with forms and applications that adapt to you. Your situation is unique, and you deserve a simple, personalized experience.
Ultra-quick customer service
Get fast, accurate answers to all of your questions at every step. With average 30 second hold times and efficient conversations, you’ll be on your way in no time.
Real-time status updates
No more waiting and wondering about your form’s status. GOV+ offers instant updates and customizable alerts, from the moment of filing to final outcome.
Tailored Transactions
GOV+ technology eliminates needless busywork with forms and applications that adapt to you. Your situation is unique, and you deserve a simple, personalized experience.
Employer ID Number Made Easy