If you are an LLC owner and are considering changing the name of your company, you may be wondering if you can keep the same EIN number. In general, the answer is yes, but there are a few things you should be aware of before making the move.
First, it’s critical to comprehend what an EIN number is and its significance. Employer Identification Numbers, or EINs, are special nine-digit numbers given out by the IRS to identify your company for tax-related purposes. This number is used to interact with the IRS about your business, file tax returns, and pay taxes.
Returning to the primary topic: is it possible to rename your LLC while maintaining the same EIN number? As long as the LLC is the same entity with the same tax ID number, the answer is typically yes. This implies that the LLC’s ownership structure, commercial pursuits, and tax status must not change. You will need to file for a new EIN number if any of these things change.
What is the time frame for changing your business name with the IRS? Depending on the type of business company and the purpose for the name change, the procedure may alter. You must submit an amendment to your Articles of Organization to the Secretary of State’s office in your state if you want to form an LLC. Once the adjustment has been accepted, you can file Form SS-4, which normally takes four to six weeks to process, with the IRS to update your business name.
But what if you wish to modify your EIN’s name? This is feasible, but you must submit Form SS-4 to the IRS to inform them of the change. Other governmental organizations, such as the Social Security Administration and the Department of Revenue in your state, should also have your updated business name on file.
It’s crucial to remember that if the name of your LLC changed as a result of a merger or purchase, you are not obligated to notify the IRS of the change. As long as the LLC stays the same legal entity, the EIN may be kept in this situation.
Lastly, a lot of people are curious about how a name change may influence their tax return. As long as the LLC’s tax status is maintained, the answer is no. To make sure that your tax returns and other vital paperwork are filed correctly, it’s crucial to update your company name with the IRS and other agencies.
In conclusion, as long as the LLC remains the same company with the same tax ID number, altering the name of your LLC while maintaining the same EIN number is possible. To avoid any potential problems in the future, be sure to follow the correct procedures and update your information with the IRS and other governmental organizations if you’re considering altering the name of your company.
Depending on the kind of company entity and the particular county where the business is located, changing a business name in California might cost a variety of amounts. The price often ranges from $10 to $150. In California, for instance, a corporation must pay $100 in order to change its business name, whereas an LLC must pay $30. Additionally, there can be extra costs associated with submitting paperwork to the California Secretary of State and publishing a newspaper notice of the name change. For advice on the precise expenses and criteria for changing a business name in California, it is advised that you speak with a business attorney or accountant.
You must submit Articles of Organization to the California Secretary of State along with the necessary filing fee if you want to form an LLC there. Additionally, you must select a distinctive name for your LLC, designate a registered agent, and create an operating agreement. Following the approval of your LLC, you will need to open a business bank account, open any required licenses and permits, and adhere to all relevant state and federal laws.