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

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plan, we are an LLC...
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: 5 years ago.Category: Tax
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Answered in 11 minutes by:
7/3/2012
Tax Professional: Megan C, Certified Public Accountant (CPA) replied 5 years ago
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16,581
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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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.

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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
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