An EIN is a federal identification number used by the IRS to identify a business entity. It is also known as a Federal Tax ID number. New York State will also use this number to identify your business for tax purposes. Legally, you are required to identify your business with one of two numbers: either your social security number or an EIN.
Generally you need an EIN when your business is formed and filed as a new corporation or LLC, will have employees, and will open a business bank account.
If you are a sole proprietor, your social security number can be used on all of your government forms and other official documents, but most small business advisors recommend that you apply for an EIN and use that number instead.
Use our convenient online worksheet, or call us for assistance and we will assist you immediately by assisting in obtaining this important number!