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Employer Identification Number
Generally, businesses need an Employer Identification Number( EIN) if they have employees, operate as a corporation / partnership, file federal taxes or to open a bank account.
An EIN is a unique nine-digit number that identifies your business for tax purposes. It’ s similar to a Social Security number but is meant for business related items only. It’ s helpful to apply for one as soon as you start planning your business. This will ensure there are no delays in getting the appropriate licenses or financing that you may need to operate.
You may apply for an EIN in various ways, and now you may apply online. This is a free service offered by the Internal Revenue Service and you can get your EIN immediately.
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