01.
Single member LLCs that elect to be treated as either an S or C corporation will need to get an EIN for LLC federal tax purposes
What is an LLC?
A limited liability company (LLC) legally separates an owner from their business. This business identity combines the most attractive aspects of a corporation, sole proprietorship, and partnership into a new organizational structure. The result? Improved liability protection and pass-through status tax advantages.
Why Does an LLC Need an EIN?
Almost all LLCs are legally required to obtain an Employer Identification Number (EIN). There are some exceptions for single-member LLCs, but there are also several instances where these corporations need one as well. You’ll have to file for an EIN if any of the following apply to you:
02.
If your single member LLC has one or more employees, you’ll be required to apply for an EIN for LLC compliance
03.
If you add an owner to your single member LLC, you’ll be required to obtain an EIN for LLC legality
04.
If you pay taxes to ATF (the Bureau of Alcohol, Tobacco, Firearms and Explosives)
05.
If you have a Keough retirement plan
Benefits of an EIN for an LLC
An LLC EIN number can benefit your business in several ways, in addition to meeting legal standards and federal income tax purposes. Here’s are some of the additional perks an EIN provides:
- An EIN for LLC usage reduces the risk of identity theft since it can be used as a form of business identification in place of your personal Social Security number
- An EIN makes it possible to build up your business’ credit rating, open a business bank account, and apply for loans
- It allows your business entity to legally hire employees
- They allow you to maximize your tax-deductible payments
Why GOV+
GOV+ is the fastest and easiest way to apply for a limited liability company employer ID number. We’ve expedited and simplified the process, requiring just one submission form. Using smart, cloud-based technology, we take care of your EIN so you can get about your day. Take a few brief moments to fill out our online EIN application and we’ll handle that rest. It’s that easy.
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