One of the main important things in starting a business is obtaining an Employment Identification number (EIN), a nine-digit number that is used to identify your business for tact purposes, from the Internal Revenue Services (IRS).

 

An EIN is used to apply for a business license, file tax return and even to open a business bank account. Every business needs to obtain a FEIN if they are operating as a corporation, limited liability companies (LLC), sole proprietorship, partnership, nonprofit organizations, and government agencies.

 

The EIN never expires, and the same number is never reissued to another business even if the original employers go out of business, but if the business has changed its ownership structure, a new EIN number must be applied for.

Reference: https://www.irs.gov

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