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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Business Law
Satisfied Customers: 41221
Experience:  Run my own successful business/contract law practice.
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I have a sole proprietor small business and a EIN# XXXXX that

Resolved Question:

I have a sole proprietor small business and a EIN# XXXXX that business.
I just formed a LLC with my husband for another business....do I need to apply for another EIN#
Submitted: 5 years ago.
Category: Business Law
Expert:  Dimitry K., Esq. replied 5 years ago.
Thank you for your question.

The answer is "yes", since the LLC is a wholly separate entity, it requires a new EIN which would not be covered by your sole proprietorship. You will need to apply for a new EIN. The reason is because then there is no difference between you, your proprietorship, and the LLC, the corporate veil is pierced, and you lose out on the benefits that a corporation provides you.

Good luck.
Dimitry K., Esq. and 4 other Business Law Specialists are ready to help you
Customer: replied 5 years ago.
Does the LLC file as corp or s-corp
Expert:  Dimitry K., Esq. replied 5 years ago.
Thank you for your follow-up.

An LLC files as a pass through entity. It files like an S Corp and not like a C Corp.

Good luck.
Dimitry K., Esq. and 4 other Business Law Specialists are ready to help you

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