FEIN Benefits Explained

BusinessWeek.com has a post explaining how getting an FEIN (Federal Employer Identification Number) is not only required for Corporations and LLCs, but can also help keep your Social Security Number confidential when you file a DBA.

You’ll also have to obtain an EIN if you decide to form a different business entity, such as a corporation or limited liability company. If none of those apply, then you can use your Social Security number as your taxpayer ID. Some business owners prefer to use an EIN, even though they are not required to, just to avoid using their Social Security number, says Lisa Schwartz, with Mitchell & Smith in Camarillo, Calif.

MyNewCompany.com can prepare your FEIN Application and/or obtain an FEIN on your behalf as part of our Business Formation Services!

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