WHAT IS AN EIN NUMBER?

The EIN requirements are specific in nature and necessary to indicate that a business is recognized in the United States as a tax paying entity. An EIN, also known as an Employee Identification Number or Federal Income Tax Identification Number, is used to complete tasks such as opening a business credit card, opening a business bank account, or filing business taxes. This eliminates the use of having to use a personal Social Security Number.

DETERMINE IF YOU NEED AN EIN

• The company has employees.
• The business is operated as a corporation or partnership.
• The company withholds income tax or other purposes related to the payment of wages to a non-resident alien.
• If a person is part of a trust, estate, Keogh plan, farmers’ cooperative, real estate mortgage investment organization, or plan administration.
• If excise, tobacco, alcohol, firearms, or employment taxes are filed.