Hi,
I was wondering if someone could help me maybe. I have EIN Number already under my own name. I want to name my company do I need to apply for another EIN Number or can I use the same one I have.

Savy Girl Management

Hi Denise,

A name change does not require a new EIN number.

Visit http://www.irs.gov/Businesses/Small-...d-a-New-EIN%3F to read the IRS details.

Best regards,

__________________
Cynthia Bastian, Brass Ring Administrative Solutions
www.BrassRingAdmin.com

Cynthia,
Thank You for your help. I was not sure if I needed a new one or not. Since the first one I got was under my name and now I have a name for my business. Again Thank You

Denise
Savy Girl Management

I think you are only "allowed" to have one. If you have another business you can just use the same EIN and use a DBA (doing business as).

Check the IRS site to be sure. I had my EIN under one name and then used a DBA name because I had several different ventures.

However, this became an issue when opening a business banking account. The EIN had to be in the name of the bank account or the checks deposited would have to be in the name on the EIN. This led to confusion with checks because clients would write it out to one business name and the account was in another. The bank wouldn't accept the checks.

Just as some help this is a link to the IRS info:

http://www.irs.gov/Businesses/Small-...d-a-New-EIN%3F

I'm certainly not a lawyer or tax account but it does seem like you can have multiple DBA's under 1 EIN number if you are a sole proprietor. I can't quite remember (I use to have a small business which became a larger business years ago) but I think if you have employees then things change on that front.

Yes I agree the bank/check thing could be an issue.

I just went through something similar. I recently changed to an LLC. I talked to my lawyer, my bank, and I called the number on this page for the IRS. The consensus is you are not legally required to obtain a new EIN, but many banks do require it for new bank accounts. I was required to get a new bank account because legally I was a new business, and my bank required a separate EIN for my new business. So I advise you to check with your lawyer and your bank institution. It's not a big deal. It's totally free to get a new EIN. You can apply by calling that number on the page linked above, and will receive it in no time.

Rhonda

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Thank You.
Everyone for your help I did talk to my bank and explained it to them. They said I don not need to apply for another EIN Number for banking purposes.


Denise

You can obtain many EIN numbers for as many businesses you wish to have, but the government only gives out one per day per business.

If you are setting up the new business, with a new name, as a different TYPE of entity (LLC, Corp, Partnership, etc) in stead of a Sole Prop, then you do need to get a new EIN. (You'll get a lot of grief from the IRS in the future if you do not. I had this same situation about 15-20 years ago where I went from Sole Prop to Corporation and didn't get a new EIN...and it was a mess!!)

The new entity will have different tax situations then a Sole Prop and should be identified with a separate EIN. Applying for a new EIN is easy on the IRS website, therefore I would suggest getting a new EIN (if you are setting up a new TYPE of entity) and save yourself some possible grief in the future.

Just My Two Cents,

Julie

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Julie | Virtual Resource Services, Inc (VRSI)
http://www.vrsioffice.com

Julie,
Thank You. I'm staying a sole proprietorship. The only thing is. The Ein Number I have right now is under my own personal name. Example Denise Tubbs. Now I finally came up with a name for my business. I want to use that. My own name was used for when I was selling things online etc. When I try and apply for another EIN it is telling me to call IRS reference number 101. When I look up that number it is saying cause I have a EIN already. So I will call the IRS instead.

Denise

Let us know what they say. I believe as a sole proprietor you can just do a DBA.... Denise Tubbs DBA Virtual Assistant NYC (or whatever your company name is). But I'm curious what the IRS says.

Susan

Yes, do let us know what they say; I'm heading down the same path (getting an EIN when I haven't yet decided on my biz name) so I'm curious as to what you'll find out!

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Allie
The Admin Initiative

My EIN is the same for all my companies. However, I asked my CPA why that was the case. She indicated that it is the way I have my companies structured. I am an LLC in one state and foreign LLC in another state with a D/B/A business passing through the foreign LLC. Whereby when I get paid for any business coaching services my clients write payments to the corporation not the D/B/A entity.

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Holly Sheriff, MSLS
Best Virtual Paralegal, LLC & BVP Services