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Merlo
Merlo, Accountant
Category: Tax
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Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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I am starting an online business in retail and re-sell. I have

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I am starting an online business in retail and re-sell. I have an EIN tax number from when I tried to start an online business in another state, but never got off the ground. Am I able to use the same EIN tax number for my new online business in Colorado? and can i use the same the store name? or would it be better to have a new name with a new EIN?

Hello JA Customer,

 

Was the original business for which you already have an EIN set up as a sole proprietorship, single member LLC, partnership or corporation?

 

 

Customer: replied 6 years ago.
it was set up as a sole proprietorship. made no sales and I just kind of stop working the business. This was about 8-10 years ago in West Virginia. I'm now in Colorado and would like to try again.

Hello again JA Customer,

 

Thank you for the additional information.

 

Generally, businesses need a new EIN when their ownership or structure has changed.

 

In the case of a sole proprietorship, the following rules apply:

 

You will be required to obtain a new EIN if any of the following statements are true.

  • You are subject to a bankruptcy proceeding.
  • You incorporate.
  • You take in partners and operate as a partnership.
  • You purchase or inherit an existing business that you operate as a sole proprietorship.

You will not be required to obtain a new EIN if any of the following statements are true.

  • You change the name of your business.
  • You change your location and/or add other locations.
  • You operate multiple businesses.

So in your particular case, as long as you are still operating as a sole proprietor, then you would not be required to file for a new EIN.

 

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Thank you

 

 

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