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The Employer Identification Number (EIN) is used by the Internal Revenue Service to recognize a business entity. The Employer Identification Number is also commonly referred to as a federal tax identification number. While the majority of businesses will be required to obtain an Employer Identification Number, there are some exceptions to this requirement, for example if your limited liability company (LLC) is a single-member LLC.

If your business is a multi-member LLC, you will be required to obtain an employer identification number, nonetheless of whether they are taxed as a partnership or have chosen to be taxed as a corporation. However, the circumstances for single-member LLCs creates a contrasting condition. With the exception of a single-member LLC has chosen to be taxed as a corporation, the IRS views it as a dismissed entity. This translates the LLC’s earnings is treated as the owner’s earnings for federal income tax purposes.

A single-member LLC viewed upon by the IRS as a dismissed entity is not required to receive an EIN unless it has:

  • One or additional employees
  • Duty tax liabilities

Furthermore, if you perform any alterations that end up in your LLC not being viewed as a disregarded entity by the IRS, you will need to obtain an Employer Identification Number (EIN). Nevada Small Business Consulting offers full-service LLC formation assistance services. We can complete all of the paperwork and filings for you, with affordable rates packages. You can click the following link to view our many 5-star Google Reviews. Contact us today at (702) 758-4691 to schedule a no-cost initial consultation and quote!