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Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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I have Fed tax id for an LLC, I am handing off all ownership

Resolved Question:

I have Fed tax id for an LLC, I am handing off all ownership to my partner, the fex tax id was under my name tied to my SS# XXXXX do I need to do for tax purposes?
Submitted: 8 years ago.
Category: Tax
Expert:  Merlo replied 8 years ago.



If you are currently operating as a partnership, and the partnership is being taken over by one of the partners and will now be operated from here on out as a single member LLC, then the remaining partner will need to obtain a new tax ID number.


I am giving you a link below to a section of the IRS website which explains what situations require a new tax ID number. You should refer in particular to the section for partnerships, assuming that applies.


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Thank you.,,id%3D98011,00.html+new+fein+llc+change&hl=en&ct=clnk&cd=1&gl=us


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