Having an EIN (Employer Identification Number) is essential for businesses of all shapes and sizes. An EIN is an identification number the IRS assigns to business entities – essentially, a social security number for the business. Having an EIN allows you to open a business bank account, pay employees, and file necessary tax documents. For those doing business in New York, it’s important to know the best ways to get an EIN. Read on to learn the top 5 steps to get an EIN number in New York.

Step 1: Understand When to Get an EIN

In general, businesses need an EIN in cases where they have employees on payroll, require special licenses to operate, or owe federal taxes. Businesses who do not meet any of these criteria can usually get by with just using their social security number, but it’s important to consult a knowledgeable lawyer or accountant to make sure your business is properly setup.

Step 2: Apply for an Online EIN Through the IRS website

The most straightforward way to get an EIN in New York is to apply online through the IRS website. This process is relatively quick and easy, and an EIN can be issued within a few hours. The application is free and can be completed quickly without the need for further documents. It’s important to note that any key personnel involved in the business, such as the officers, should be prepared to provide their name, social security number, and address in order to complete the application.

Step 3: Consider Using a Professional Service to Obtain an EIN

For businesses looking for more guidance through the process of obtaining an EIN, working with a professional company that specializes in obtaining your EIN may offer an advantage. This can be particularly beneficial for those who are unfamiliar with the necessary documents, or who don’t have the time to fill out forms and submit them properly. Many of these companies are registered with the IRS and can obtain an EIN on your behalf in just a few days. It’s important to make sure the company you choose is a reputable one that adheres to the IRS’s regulations.

Step 4: Gather Necessary Documents

In order to complete a successful EIN application, certain documents need to be gathered ahead of time. Depending on the type of business structure you’ve chosen, the documents may vary. Generally, applicants should have documents that prove their legal identity (passport, driver’s license, or similar) and proof of existence for the business (business licenses, articles of organization, and bylaws).

Step 5: Reach Out to Locally Practicing Lawyers for Expert Advice

For businesses looking for more personalized legal advice from local professionals, reaching out to an experienced lawyer in New York can provide invaluable assistance. These legal experts are knowledgeable about the local regulations, and can provide tailored advice that takes into account the furniture business’s particular situation. For those looking for legal support from business lawyers, UpCounsel is an excellent resource to find experienced lawyers at unbeatable rates.

Closing considerations

Getting an EIN in New York can be a stressful and time consuming process, but following these 5 steps make the process much easier. Having a strong understanding of when an EIN is necessary, applying online, considering a professional service, gathering necessary documents, and seeking help from locally practicing lawyers can go a long way in securing your EIN.


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