Tuesday, September 24, 2013

Sole Proprietors - Do You Need a New EIN?

ABA Tax Accounting | Income Tax Service for Small Businesses

Small Business Accounting - Generally, businesses need a new EIN when their ownership or structure has changed. Although changing the name of your business does not require you to obtain a new EIN, you may wish to contact our office to find out what actions are required if you change the name of your business. The information below provides answers to frequently asked questions about changing your EIN. If, after reading the information below, you find that you need an EIN, please feel free to contact us to assist you on how to apply for an EIN.

Sole Proprietors
You will be required to obtain a new EIN if any of the following statements are true.
·       You are subject to a bankruptcy proceeding.
·       You incorporate.
·       You take in partners and operate as a partnership.
·       You purchase or inherit an existing business that you operate as a sole proprietorship.

You will not be required to obtain a new EIN if any of the following statements are true.
·       You change the name of your business.
·       You change your location and/or add other locations.
·       You operate multiple businesses.

We're happy to help! For no obligation free consultation contact us today!
(952) 583-9108

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