How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Megan C Your Own Question
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16576
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Type Your Tax Question Here...
Megan C is online now
A new question is answered every 9 seconds

Our company currently has employees, has two owners, a retirement

Resolved Question:

Our company currently has employees, has two owners, a retirement plan, we are an LLC S-corp filing. We need a different tax ID number in order to process certain medical claims as one of the services we currently offer can't be combined with the other under the same tax ID number, how should we go about this? Can we just apply for a second number, do we need to form another LLC?
Submitted: 4 years ago.
Category: Tax
Expert:  Megan C replied 4 years ago.
Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

Thank you for your question! Similar to how an inidividual can only have one Social Security Number, a business can only have one EIN number. Therefore, to get a second EIN you will need to have a separate legal entity. Setting up a second LLC will accomplish that.

The current LLC would be the sole owner of the second LLC, and therefore the income would still flow through all the way back to the owners of the original LLC. It's a lot of paperwork, but the important thing is to comply with any regulations in your industry.

Please let us know if we can be any additional assitance.

If this helped, then rate my service as "excellent" so that I can be compensated for assisting you today. Otherwise, click "reply" or "continue conversation" for continued dialog with me.

VERY IMPORTANT - IF you are having DIFFICULTY RATING, please let me know IMMEDIATELY. If you don't rate my response, I don't get paid even though your deposit is retained by the site. Thanks for your cooperation in this matter.

Megan C and other Tax Specialists are ready to help you