When you started your corporation, you filed for a corporation tax ID number to be able to begin your business. An EIN number is needed to start a new business, hire employees, open business bank accounts, tax purposes, etc. The federal tax ID number allows you to operate as a corporation, completing all aspects of your business based on the business laws of the United States. For new business owners, the process can be confusing and questions can arise. For example, if you move a corporation to a different state, will you need a new EIN number. When it comes to questions like this, you need the help of professionals who specialize in tax ID’s, especially the filing process.
Move Where You Like
Whether you are the sole proprietor of your business or a corporation, you are not required to obtain a new EIN number by moving to a new location. You can maintain the same EIN number given when starting the business. However, there are instances as a sole proprietor or Corporation that require a new tax ID. It is important as the business owner, to know these requirements so you continue to operate your business within the law.
Sole Proprietor
If you have been subjected to a bankruptcy proceeding, you will need a new EIN. If you incorporate, take on partners or operate the business as a partnership, you will require a new number. If you operate an existing business after purchasing it or inheriting it as a sole proprietor, you are required to obtain a new EIN.
Corporations
For corporations, you must obtain a new EIN if you receive a new charter from the secretary of state. You must also obtain a new number if you are a subsidiary of a corporation that uses the parent tax ID number or you become a subsidiary of an existing corporation. If partnership changes are made or sole proprietorship change are made, a new EIN number is needed.
Using online EIN number service companies will allow you to easily make changes when needed. You can find quality information at irs-ein-tax-id.com with options to speak with customer service via chat for all your tax ID questions.
