Frequently Asked Questions About How to Get an EIN Number
Getting an Employer Identification Number (EIN) is an essential step for many business owners in the United States2 min read
Getting an Employer Identification Number (EIN) is an essential step for many business owners in the United States. An EIN allows for businesses to easily open bank accounts and offers additional financial security for all business owners. In this article, we will cover frequently asked questions about how to get an EIN, with particular attention to those in New York who need to be aware of the local regulation.
What is an EIN?
An EIN stands for Employer Identification Number. It is a unique nine-digit number that is used to identify an organization or business. This number is needed to open a business bank account and file taxes with the Internal Revenue Service (IRS). It is also important for a business to obtain business credit cards and will help to distinguish it from other entities.
Do I need an EIN?
It is important to note that not all businesses need an EIN. Sole proprietorships—which are not legally required to register with the state—do not need to obtain an EIN. However, any business that has employees —even if there are only one or two—must obtain an EIN. Additionally, if you have multiple businesses, you will need one separate EIN for each business.
How do I get an EIN?
The process for obtaining an EIN in the United States is simple. Businesses must apply for an Employer Identification Number by visiting the IRS website, completing an online application, and waiting for the IRS to respond with a confirmation.
In New York, businesses must first register with the Department of State and obtain a Certificate of Incorporation or Domestic Limited Liability Company Certificate of Formation. Once registered, businesses can then apply for an EIN by submitting the required documents to the IRS.
Are there any special guidelines for obtaining an EIN number in New York?
Yes, in addition to registering with the Department of State, businesses in New York must apply in person or mail a completed Form SS-4 to the IRS. The SS-4 must include the Certificate of Incorporation, proof of business address, and proof of the business’s legal name. Additionally, the business must meet the qualifications outlined in New York’s Corporation Law. The form should be mailed to the IRS special processing unit located in Covington, Kentucky.
What if I need help understanding or submitting the required documents?
The laws and regulations related to obtaining an EIN in New York can be quite complex. If you need guidance from a legal expert, you can contact a business lawyer for help. UpCounsel’s network of experienced lawyers specializes in a wide array of business needs and can provide reliable and cost-effective solutions.
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