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    EIN QUESTION. LLC/S-Corp
    Greetings,

    I have formed a LLC and I'm the only person involved. I need to do two things. 1.)Open bank account 2.)File to be taxed a S-Corp
    At this point I will be a shareholder operator with a salary and two more shareholders will be introduced when certificates are formed.

    My understanding right now is as a LLC sole proprietorship the company won't need a EIN and I would use my social number in it's place.

    When filing for S-Corp tax status I believe I need a EIN.

    My questions are:
    1.) When declaring S-Corp tax status can I use social as EIN or do I need to obtain EIN? If so should I apply for EIN for S-Corp, or EIN for LLC.
    2.) Can I open a bank account now using social number in place of EIN and start purchasing equipment, or should I wait to open account once I am classified as S-Corp status?


    If anyone has any insights for me it would be appreciated.
    Thanks,


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    Just get an EIN. It only takes a few minutes. The whole point of not being a sole proprietorship to to avoid the personal liability.


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    Lol great answer, simple and well put


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    We have an accountant who works out our taxes. But of course once in a while there is always an external auditor who comes to verify what we have been submitting as your tax returns. I think that way is much better so that there is no one playing some tricks.


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    The IRS takes up to two weeks to make your new EIN part of its permanent records. Until your EIN gets added to the permanent records you canít file an electronic return make an electronic payment or pass an IRS Taxpayer Identification Number matching program.


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    Hi guys,,,
    Just fine simple answer and put it here.
    Thanks


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    Hi guys,,,
    Just find simple answer and put it here.
    Thanks


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    The research is gaining ground. They are not in a verge into something good, but they are getting there. - Marla Ahlgrimm


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    The direction they are taking is really nice. That is definitely a step towards the right direction. - Green Water Technologies


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