You might be asking if you can add LLC to your firm if you are a business owner and already have an Employer Identification Number (EIN). Yes, you can update your business entity type with the IRS and add LLC to your EIN. To bring about this shift, you must first take a few measures. You must submit Form 8832, Entity Classification Election, to the IRS first. You can select how your company will be categorized for tax purposes using this form. You must tick the “Limited Liability Company” box and provide the modification’s start date.
Once Form 8832 has been submitted, you must also inform any state or municipal organizations where your company is registered of the change in entity type. Additional paperwork and expenses might be necessary for this.
It’s crucial to understand that changing your EIN to establish an LLC doesn’t affect your tax ID number. Your company entity type will be modified to reflect the change, but your EIN will remain the same.
Accordingly, you must submit Form 8822-B, Change of Address or Responsible Party – Business, to the IRS if you need to change the responsible party for your EIN. You can use this form to change the responsible party and contact details for your EIN.
You must get in touch with the IRS immediately if you need to change information on a submitted EIN. Call the Business and Specialty Tax Line at 1-800-829-4933 to do this. Be ready to present your EIN and any other required supporting evidence to prove the correction.
You can use the same Business and Specialty Tax Line to get in touch with the IRS if you need to change your company’s name. Your EIN and any supporting papers, such as a new business license or articles of organization, must be provided.
So, is it possible to have more than one DBA under one Ein? You can use different DBAs (Doing Business As) under the same EIN, yes. Each DBA must, however, be registered with the state and must have all required business permits. It is significant to keep in mind that every DBA is regarded as a separate entity for tax purposes and can call for several tax filings.
In conclusion, the process of adding an LLC to your EIN entails submitting Form 8832 to the IRS as well as informing state and local authorities. You must submit the required documents or get in touch with the IRS directly if you need to modify the responsible party or update information on a filed EIN. A single EIN may be used to register many DBAs, but each must be viewed as a separate organization for taxation.