Legal Question in Business Law in New York

If I buy an existing LLC, do I have to request a new EIN number? The structure does not change, address does not change. Everything is the same except for the 2 new members of the LLC.


Asked on 1/12/15, 10:30 am

2 Answers from Attorneys

Roman Fichman Esq. Law Practice of Roman Fichman Esq.

Generally speaking, there is no requirement to obtain a new EIN#, however be very mindful of the existing liabilities of the LLC that you will now likely become responsible for. If you are paying a meaningful sum of money to purchase the LLC, then you should have the agreement reviewed by an attorney.

Such review is generally not an expensive one. Ping me offline for help on this.

Roman R. Fichman, Esq.

www.TheLegalists.com │ @TheLegalist

email: Info (@) TheLegalists (dot) com

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Disclaimer: This post has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice or be relied upon. No intention exists to create an attorney-client relationship or any other special relationship or privilege through this post. The post may contain errors, inaccuracies and/or omissions. You should always consult an attorney admitted to practice in your jurisdiction for specific advice. This post may be deemed as Attorney Advertising.

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Answered on 1/12/15, 10:55 am
Frank Natoli Natoli-Legal, LLC

Check out the IRS info on the subject. The EIN is generally support by an individuals SS number, so in most cases this will change with new ownership.

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Do-You-Need-a-New-EIN?

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

Our firm is now referred by the American Bar Association (see under the New York section):

http://www.americanbar.org/groups/delivery_legal_services/resources/programs_to_help_those_with_moderate_income.html

Kind regards,

Frank

www.LanternLegal.com

866-871-8655

[email protected]

DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.

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Answered on 1/12/15, 10:59 am


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