An Employer Identification Number (EIN) is a term you’ve probably heard of if you own a business in the United States. The IRS issues each business a special nine-digit number for tax purposes. But how many EINs are permitted? What about the price, the process of converting from an LLC to a DBA, and the intent of an LLC? These pertinent inquiries will be addressed in this post. How many EIN numbers are permitted?
The basic answer is that each business is only allowed to have one EIN number. You must therefore file for a different EIN number for each of your enterprises if you own more than one. It’s important to keep in mind that specific circumstances, such changing your company’s organizational structure or hiring partners, can necessitate getting a new EIN number. Does Getting an EIN Number Cost Money?
No, getting an EIN is cost-free. One can be requested by phone, fax, letter, or online application. The easiest and fastest way to submit an application is online. Remember that some businesses offer to help you obtain an EIN number in exchange for a charge. Don’t let someone convince you to pay for something that is actually free. What Should I Do If My LLC Changes? You must submit certain paperwork to the Secretary of State’s office in your state if you want to modify your LLC. Depending on the type of change you’re making, you’ll need to fill out certain paperwork and pay certain fees. For instance, you must submit Articles of Amendment if you want to modify the name of your LLC. An Operating Agreement Amendment must be submitted if any members are being added or removed. A lawyer or accountant should always be consulted to make sure that the proper procedures are being followed. What Information Should I Include for an LLC?
You must specify your business’s objective when you create an LLC. This succinct phrase sums up the kind of company you’ll be running. Your goal statement needs to be clear and simple. It need not be overly specific, but it must clearly convey the nature of your company’s operations. For instance, “to offer landscaping services” or “to online market handmade jewelry.” Remember that some legal documents, like your Articles of Organization, may need to include your purpose statement.
You must submit a DBA registration form to your state or county if you want to convert your LLC to a DBA (Doing Business As). Choosing a new company name and submitting the required documentation are just two steps in this straightforward process. Remember that an LLC and a DBA share the same legal status. It’s merely a method for conducting business under a different name. Maintaining the legal framework of your LLC, filing taxes, and adhering to any other rules that pertain to your company’s operations are still requirements.
In summary, you can only have one EIN number per business, getting one is free, you have to file specific paperwork with your state’s Secretary of State office if you want to change your LLC, your LLC’s purpose statement needs to be clear and concise, and you have to register your DBA with your state or county if you want to change your LLC to a DBA. Always seek professional advice before making significant alterations to your company’s organizational structure.
Yes, if your company name is not properly trademarked, someone could steal it. Before selecting a company name and registering it with the necessary authorities to guard against potential theft, it is crucial to undertake careful study. Regularly monitoring your company name and, if necessary, taking legal action can also aid in preventing theft.
Your particular business needs and objectives will determine if obtaining a DBA (Doing Business As) is worthwhile. If you want to conduct business under a name other than your legal name or the name of your business entity, a DBA may be helpful. Additionally, it can aid in building a distinct brand identity for your organization. To protect your brand, you may still need to apply for a trademark. Keep in mind that filing for a DBA does not provide your business name any legal protection. Check your state’s laws and regulations because some states demand that companies that use a name other than their legal name register for a DBA.