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I am starting an online business in retail and re-sell. I have

an EIN tax number from...
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?
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Answered in 3 minutes by:
9/1/2010
Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
Verified

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?

 

 

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Customer reply replied 7 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.

 

If this was helpful please press the Accept button. It is the only way we receive any credit for helping with these questions.

 

Thank you

 

 

Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
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Category: Tax
Satisfied Customers: 9,783
9,783 Satisfied Customers
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad

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