Entrepreneurials‎ > ‎

LLC






Use this assistant to apply for and obtain an Employer Identification Number (EIN).
Do I need an EIN?
Do I need a new EIN? 




What it is...

  • A limited liability company (LLC) is a structure allowed by state statute.
  • An LLC is formed by filing articles of organization with the state's secretary of state office.
  • An LLC must be unique in its state. There can be no more than one active LLC with the same name in the same state.
  • For federal tax purposes, an LLC may be treated as a partnership or a corporation, or be disregarded as an entity separate from its owner.
  • An LLC can have two or more members (multi-member) or one member (single-member).
  • An LLC can have an unlimited number of members.
  • An LLC's members may include individuals, corporations, other LLCs, or foreign entities.

What it is not...

If you need to change your type of structure, we recommend that you do so now, otherwise you will have to start over and re-enter your information.  Additional help may be found by reviewing all types of organizations and structures before making your selection.



----------
single member llc

Due to the number of members in your limited liability company, you are considered a Single-Member Limited Liability Company (LLC) as the type of structure applying for an EIN.

Single member LLC: A single-member LLC is an LLC with only one member, who can be an individual or another organization. Since you are a single-member LLC, we must initially classify you as a disregarded entity. This means the LLC is ignored or "disregarded" for the purpose of filing a federal tax return. This is only a mechanism for tax purposes. It does not change the fact that the business is legally a limited liability company.
Disregarded entity: A disregarded entity is a single member Limited Liability Company (LLC) that reports its income as a sole proprietorship.

If you need to change your type of structure, we recommend that you do so now, otherwise you will have to start over and re-enter your information.  Additional help may be found by reviewing all types of organizations and structures before making your selection.




--------------

Additional Information about your EIN 

We suggest you print this page for your records.

When Can You Use Your EIN?

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.

However, it will take up to two weeks before your EIN becomes part of the IRS's permanent records. You must wait until this occurs before you can:

  • File an electronic return
  • Make an electronic payment 
  • Pass an IRS Taxpayer Identification Number (TIN) matching program.

Next Steps (for LLC)?

If you do not wish to accept the default status of either partnership or disregarded entity, you can file: 

  • Form 8832 (Entity Classification Election). This form must be completed in a timely manner to receive corporation status. See the instructions for complete information.
  • Form 2553 (Election by a Small Business Corporation).This form must be completed in a timely manner to receive S corporation status. See the instructions for complete information. 

Acceptance or Non-Acceptance of Election

  • The service center will notify the LLC as to the acceptance or non-acceptance of its election. The LLC should generally receive a determination on its election within 60 days after it has filed Form 8832 or Form 2553. 
  • Do not file Form 1120 (U.S. Corporation Income Tax Return) or Form 1120S (U.S. Income Tax Return for an S Corporation) until you receive notification of your acceptance.

You can download IRS forms, publications, and tax returns at http://www.irs.gov/formspubs 

Corrections? 

If you need to make changes to your organization's information, you must do so in writing and mail the information to the address provided at https://www.irs.gov/businesses/business-name-change. 





































Comments