Just passed my nsa test and ready to get the ball rolling.
What comes first, getting my ein or LLC? Reason I ask because I was filling out the ein application on irs.gov and one question was “what type of legal structure is applying?”
Should I check box for LLC although I haven’t gotten there yet or just sole proprietorship for now?
Thanks all!
I would suggest you consult a tax professional, a CPA and/or an attorney for the answer to this one. All I WILL say is - I don’t think it’s wise to represent yourself to IRS as an LLC if you’re not an LLC yet.
I understand…I just need to choose the correct option for this. I’m guessing
Since I just started I should choose Sole Proprieter? Since I haven’t gone through the LLC application yet
Click on the “Help Topics” to the right on that site - that will help you decide; study the description of each entity and apply with the one that best fits you (and is legal).
I can’t help you any further…I would only be taking an educated guess and that’s not fair to you.
In order to get an EIN, you need a business name to attach to it, which means you need to do your state stuff first (register your business name). My states portal redirected me to the IRS to get an EIN while I was registering my business with them. You can get an EIN first, but you want to make sure the business name your using is not already registered by someone else (unless your using your REAL name as the business name).
Yes I went to the irs site for an eid and they asked for my business name and it was available. So I’m guessing I’m in the right place for that.
I was just wondering if I needed to do the llc before applying for an eid.
I’m figuring I’m just going to do sole proprietorship with more signing insurance than my current 25k to start. Doe that sound ok?
You can get an EIN as a sole prop.
My business is my name, notary public (my county business license is issued like that) so my EIN was issued to that
I will preface this with I’M NOT A TAX PROFESSIONAL NOR AN ATTORNEY…however I can read. The application says business structure you have or WILL have. So…,
FEIN/EIN is issued by a federal agency, LLC is granted by a state agency. First I made sure I knew which type of company I wanted to form, searched and made sure the desired name was available on my Secretary of State’s website. (I am in Washington state.) I am pretty sure I got my EIN first, then filed articles of incorporation with my SOS.
If you don’t know how to answer the application questions, Linda is right to consult an attorney or CPA to make sure you understand advantages/disadvantages.
After checking with my accountant, I chose to incorporate as an LLC and be treated as a corporation. I filed articles of incorporation with my state myself. Others may use an attorney, but I know how to file online.
