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I am selling my business and need to have the LLC changed to…

Customer Question
I am selling my...

I am selling my business and need to have the LLC changed to the buyers name and have my SSS # removed for the EIN

Lawyer's Assistant: Can you tell me what state the LLC is registered in?

Ohio

Lawyer's Assistant: Has anything been officially filed? If so, what?

I've canceled my vendors licenses and spoke to someone about this years taxes.

Submitted: 11 months ago.Category: Business Law
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9/14/2017
Business Lawyer: Law Educator, Esq., Attorney replied 11 months ago
Law Educator, Esq.
Category: Business Law
Satisfied Customers: 126,932
Experience: All corporate law, including non-profits and charitable fraternal organizations.
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Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

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Business Lawyer: Law Educator, Esq., Attorney replied 11 months ago

You cannot transfer the EIN of your LLC to the new owner. Actually, the LLC is attached to your SSN because it is a flow through tax entity and it may be claimed on your personal taxes, so they cannot change your SSN from the LLC EIN. What the new owner needs to do is simply apply for a new EIN under the same name and you need to send just a letter (there is no form for this with the IRS) to the IRS and OH Department of Revenue informing them that your EIN has been cancelled due to sale of the business.

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