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Ed Johnson
Ed Johnson, Tax Preparer
Category: Tax
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can i transfer a tax id number to a new business

Customer Question

can i transfer a tax id number to a new business?
Submitted: 5 years ago.
Category: Tax
Expert:  Sandi Hargrove, SkyHawks replied 5 years ago.
You should do this only if the businesses were basically identical (retail sales of non food items to another retail sales of food items is not allowed).

Be aware that any history associated with that old business will follow into the new business.

It is best to begin fresh.
Expert:  Ed Johnson replied 5 years ago.

Dear RK,

 

I am sorry, but while you should not do it, as stated, you need to be causcious because there are circusmtances in which you may not transfer the tax ID number from one business to another.

 

A tax id for a business is normally called an EIN number. Please follow:

 

For example:

 

 

If you already have an EIN, and the organization or ownership of your business changes, you may need to apply for a new number. Some of the circumstances under which a new number is XXXXX are as follows:

  • An existing business is purchased or inherited by an individual who will operate it as a sole proprietorship,
  • A sole proprietorship changes to a corporation or a partnership,
  • A partnership changes to a corporation or a sole proprietorship,
  • A corporation changes to a partnership or a sole proprietorship, or
  • An individual owner dies, and the estate takes over the business

You may not transfer the tax id number form a seperate business to your business.

 

However you do not need a new EIN number If:

 

1. You change the name of your business.

2. You change the business location

3. You operate multiplel businesses.

 

BUT even if you acquire another business and bring it under your operation, you can change ownership. BUT if that business has a seperate EIN and you have an EIN for yours, you can not bring the two together. Each business has to be operated seperately or you have to retire one number.

 

Please read this publication, and then if you have any questions, please let us know:

 

http://www.irs.gov/pub/irs-pdf/p1635.pdf

 

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