Tax, Learning Center

When should I apply for EIN?

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If you are an ambitious entrepeneur and wish to expand your business to the United States, it is just the time! Forming a company in the U.S. might be a great opportunity as it is one of the largest markets the world. However, forming a company is only one of the first steps in this endavaour. Following the incorporation of a company, one of the first things to do is probably to obtain a federal tax ID from the Internal Revenue Services (IRS). This federal tax ID for your company, known also as EIN (Employer Identification Number),

EIN is a unique, nine-digit number that is assigned to every operating business in the US for the purpose of identification and taxes. In a way, EIN is an identification number just like a Social Security Number (SSN) but for a business, which gives the entity its own identity to keep it separate from individuals. It is especially beneficial when you hire employees, establish a payroll, get special licenses and local permits, open a bank account and so on.

As a rule, every corporation or LLC (other than a single-member LLC) must have an EIN.  Not all businesses are required to have an EIN though. Businesses that are not legally separated from their owners do not need an EIN. Before applying online, you should be sure if you need a tax ID for your business.

Basically, EIN is very important to have it on your to-do list right after the incorporation and as soon as possinle. The quickest and most comfortable way of applying would be the online application as the other forms of application can last for weeks.

Don’t wait any longer.   Apply now.  We are here at your service.

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