Legal Question in Business Law in Florida

What is a Federal Tax ID number and how do I get one?

What is a Federal Tax ID number and how do I get one?

Every corporation or LLC filing a state or federal tax or informational return must have a Federal Tax ID number, also known as Employer's Identification Number (E.I.N.). An E.I.N. is your company�s "social security number" and is used by banks and other companies as an identification number.

The number is obtained by completing IRS form SS-4. The instructions tell you that after you complete the information required on the form, you can either call IRS at the number on the instruction and obtain the E.I.N. by phone or mail it to IRS and they will send the number to you in about 2-3 weeks. You will need an E.I.N. to open a corporate bank account, obtain a business license, and to pay wages to one or more employees