PARTNERSHIP | EIN APPLICATION
A Partnership is a single business where two or more people operate a business as co-owners and share income. In a general partnership company, all partners act on behalf of each other and share both profits and liabilities. A partnership can consist of people, organizations, educational institutions, government authorities or any mixture of them. If you are operating as a partnership, it is required to apply for a Federal Tax ID Number commonly called an Employer Identification Number (EIN).
WHAT IS AN EIN NUMBER?
The Employer Identification Number (EIN), also known as the Federal Employer Identification Number (FEIN) or the Federal Tax Identification Number (Tax ID Number), is a unique 9 digit number assigned from the IRS. The digits of an EIN are formatted as follows: XX-XXXXXXX. Entrepreneurs and businesses use an EIN to conduct business activities that would otherwise require a Social Security Number (SSN).
DOES A PARTNERSHIP NEED AN EIN?
- Open bank accounts
- Obtain Business Licenses and Permits
- Open a business checking account and apply for business credit
- Keep your privacy and reduce your chances of identity theft by not providing your Social Security Number
HOW TO GET AN EIN NUMBER FOR A PARTNERSHIP:
Apply now and obtain an Employer Identification Number (EIN) by filling out the EIN Online Application form. It is Easy, Fast and Secure. After you complete the online process you will receive your EIN together with important information within 1-2 business days.