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I am a Board of Director Member for a Company that never got…

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Hi, My name...

Hi, My name is***** I am a Board of Director Member for a Company that never got launched. We have an existing EIN and I would like to check if this is still a valid EIN. The company lost 2 members with their passing and we decided to Incorporate in the State of Florida. Can I use the same EIN??

Accountant's Assistant: The Accountant will know how to help. Is there anything else the Accountant should be aware of?

The name of the company is Independent Energy LLC located in the state of South Carolina. The EIN is###-##-####

Submitted: 8 months ago.Category: Tax
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11/15/2017
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 8 months ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,631
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Hi. My name's Lane -

I hold a law degree (J.D.), with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice 1986.

If you’ll please bear with me for a minute I’ll type up my initial response, and then we can go from there if you have further questions on this.

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Tax Professional: Lane, JD, CFP, MBA, CRPS replied 8 months ago

EIN's never die (whether they are ever used or not).

...

If you need verification or proof for, say, opening a business account, you can do the following:

...

"The IRS allows authorized representatives to call and confirm or relocate a business EIN. Authorized individuals include officers of the company, sole proprietors and partners. A trust is also issued an EIN; its authorized representative is a trustee or executor of the estate.

...

The verification process for an authorized representative is simple. Call the IRS at(###) ###-#### The IRS representative will request your identifying information. The representative will then give you the EIN number over the phone."

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Tax Professional: Lane, JD, CFP, MBA, CRPS replied 8 months ago

If you move before filing your tax return, put the new address on your return. The IRS will update your records when they process your return.

...

If you move after filing your return, you should have the post office forward mail to your new address. Some post offices do not forward government checks, so you may also want to change your address with the IRS. You can use IRS Form 8822, Change of Address (form and instructions) to notify them of an address change.

...

Whether or not you need a NEW EIN depends on the entity type and other facts and circumstances. Bear with ma a moment and I'll pull up the regs

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Tax Professional: Lane, JD, CFP, MBA, CRPS replied 8 months ago

Sole Proprietors

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.

...

Corporations

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

  • A corporation receives a new charter from the secretary of state.
  • You are a subsidiary of a corporation using the parent's EIN or you become a subsidiary of a corporation.
  • You change to a partnership or a sole proprietorship.
  • A new corporation is created after a statutory merger.

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

  • You are a division of a corporation.
  • The surviving corporation uses the existing EIN after a corporate merger.
  • A corporation declares bankruptcy.
  • The corporate name or location changes.
  • A corporation chooses to be taxed as an S corporation.
  • Reorganization of a corporation changes only the identity or place.
  • Conversion at the state level with business structure remaining unchanged.

...

Partnerships

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

  • You incorporate.
  • Your partnership is taken over by one of the partners and is operated as a sole proprietorship.
  • You end an old partnership and begin a new one.

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

  • The partnership declares bankruptcy.
  • The partnership name changes.
  • You change the location of the partnership or add other locations.
  • A new partnership is formed as a result of the termination of a partnership under IRC section 708(b)(1)(B).
  • 50 percent or more of the ownership of the partnership (measured by interests in capital and profits) changes hands within a twelve-month period (terminated partnerships under Reg.(###) ###-####1).

...

Limited Liability Company (LLC)

An LLC is an entity created by state statute. The IRS did not create a new tax classification for the LLC when it was created by the states; instead IRS uses the tax entity classifications it has always had for business taxpayers: corporation, partnership, or disregarded as an entity separate from its owner, referred to as a “disregarded entity.” An LLC is always classified by the IRS as one of these types of taxable entities. If a “disregarded entity” is owned by an individual, it is treated as a sole proprietor. If the “disregarded entity” is owned by any other entity, it is treated as a branch or division of its owner.

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