Going stealth and a LLC

GreatDay · #1 04-10-2016

In the ghost book that I purchased I am looking at LLC information. I have already signed up under a stealth name. Now I want to enter my tax id in. Do I go get a LLC under stealth name... NAME LLC.......is that how it is done? When getting the llc, what name do I do it under to stay stealth?

newjerseymax · #2 04-10-2016

Not sure how big you want to go with this account, however you can just get a EIN, DBA, Business Account using DBA as Sole Proprietor... That is least expressive solution....

The LCC will have a Corporation name with members. You could be the sole member or have other acting members within that LLC...

I prefer the LLC route as its a bit more legit with new suppliers and such, however sole Proprietor is just as good for a single account...

Advantage of LLC is being able to get multiple EIN under that corporation or adding another LLC to add more layers...

However it comes down to a lot more costs...

yankee · #3 04-10-2016

by law your EIN from the IRS must be in your real details.

GreatDay · #4 04-10-2016

So I am on Legal Zoom and I am choosing the option Individual/Sole Proprietorship ....It is asking for my SS# ....
SO do i do everything with my REAL information, name and ss# and then my business name is "Stealth Name" .....
So when i give Amazon my EIN number they will only see my "stealth name" which is my business name?

GreatDay · #5 04-10-2016

is the EIN number like the bank account? they just want the number and never look at whos behind it?

GreatDay · #6 04-10-2016

Quote:

Originally Posted by newjerseymax

Not sure how big you want to go with this account, however you can just get a EIN, DBA, Business Account using DBA as Sole Proprietor... That is least expressive solution....

The LCC will have a Corporation name with members. You could be the sole member or have other acting members within that LLC...

I prefer the LLC route as its a bit more legit with new suppliers and such, however sole Proprietor is just as good for a single account...

Advantage of LLC is being able to get multiple EIN under that corporation or adding another LLC to add more layers...

However it comes down to a lot more costs...

I can go with DBA , just doing a few private labels on the account...but when i am on legal zoom they want my SS#....do i give them my real information, have my business name, my stealth name and then all Amazon sees is my business name and EIN number?

GreatDay · #7 04-10-2016

Quote:

Originally Posted by yankee

by law your EIN from the IRS must be in your real details.

So how do we give our EIN number to Amazon without them finding out who we are? Do amaazon only see our business name and EIN?

yankee · #8 04-10-2016

EIN is your tax number for the IRS and state.

I recommend consulting your accountant to determine what entity is best for you. The tax consequences vary greatly.

rsot · #9 04-10-2016

Should keep both posts together: http://www.aspkin.com/forums/amazon/...about-llc.html

GreatDay · #10 04-10-2016

Yankee, thank you for your reply. I may not be wording my question correctly so bear with me.
Rather I choose LLc, DBA or whichever....I am wondering how amazon will not see my true information on my business. does amazon only look at the EIN and nothing more? If I create a business under my real name, how will that not get me kicked off amazon, when i try DBA form on legal zoom it ask for my SS#.....I am wondering how this is stealth if I want to hook a ein to my amazon account? Thank you for you time.

yankee · #11 04-10-2016

Who ownes Kraft? Who ownes Ford? Home Depot? Lowes?

Your company is owned by members or shareholders, not you unless you chose DBA(bad choice in almost every way)

Never use legal zoom. EIN is free off of the IRS website......FREE.

GreatDay · #12 04-10-2016

your right it is free....(why would anyone use legal zoom anyways? different thread...lol) ok so I am getting a business under my real name and then naming it something different....and i will give ein to amazon.....i hope this works. Thank you.

elmo · #13 04-11-2016

people use legal zoom as its one way of registering a corp/llc in your state. I've never personally used it, but its just a service like many others that provide a service for registering businesses within your state. They try to make it automatic / easy, but I've always done it myself so not sure exactly how they work.

you should pick up Amazon Stealth if you haven't already. I believe it has a section on adding EIN information to amazon and doing it correctly

alekov · #14 04-15-2016

Quote:

Originally Posted by newjerseymax

Not sure how big you want to go with this account, however you can just get a EIN, DBA, Business Account using DBA as Sole Proprietor... That is least expressive solution....

The LCC will have a Corporation name with members. You could be the sole member or have other acting members within that LLC...

I prefer the LLC route as its a bit more legit with new suppliers and such, however sole Proprietor is just as good for a single account...

Advantage of LLC is being able to get multiple EIN under that corporation or adding another LLC to add more layers...

However it comes down to a lot more costs...

Could you elaborate on the multiple EIN under one corporation please? I have been running 2-3 accounts at a time, and have used both the LLC option and also my personal name as a sole proprietor with a new EIN, however, I'm looking into running 5 to 10 accounts simultaneously, and no longer have my EIN available (as you can only receive one EIN per person). My concern is opening 10 LLCs and the cost of opening them and filing every year and etc. If there is a way to run DBAs with different EIN numbers then I avoid this high cost of 10 LLCs... Is that what you were talking about? Is it possible? Can you get multiple EINs to open separate stealth accounts with just one LLC?

ajgoldie · #15 04-25-2016

Quote:

Originally Posted by alekov

Could you elaborate on the multiple EIN under one corporation please? I have been running 2-3 accounts at a time, and have used both the LLC option and also my personal name as a sole proprietor with a new EIN, however, I'm looking into running 5 to 10 accounts simultaneously, and no longer have my EIN available (as you can only receive one EIN per person). My concern is opening 10 LLCs and the cost of opening them and filing every year and etc. If there is a way to run DBAs with different EIN numbers then I avoid this high cost of 10 LLCs... Is that what you were talking about? Is it possible? Can you get multiple EINs to open separate stealth accounts with just one LLC?

I'm curious about this too. Can anyone answer this?

Jclee4 · #16 07-13-2018

Quote:

Originally Posted by alekov

Could you elaborate on the multiple EIN under one corporation please? I have been running 2-3 accounts at a time, and have used both the LLC option and also my personal name as a sole proprietor with a new EIN, however, I'm looking into running 5 to 10 accounts simultaneously, and no longer have my EIN available (as you can only receive one EIN per person). My concern is opening 10 LLCs and the cost of opening them and filing every year and etc. If there is a way to run DBAs with different EIN numbers then I avoid this high cost of 10 LLCs... Is that what you were talking about? Is it possible? Can you get multiple EINs to open separate stealth accounts with just one LLC?

Was this ever answered?

ScottieBoi · #17 07-16-2018

People are getting EIN and LLC confused. An EIN is free from the IRS. A person can only get 1 EIN for life, so if you haven't gotten and used your personal EIN, do that. If you have, then open an LLC. You can do so by dealing directly with the state. No reason to use a service, as you can just do it yourself. Then you use that LLC to get another EIN. The EIN belongs to the LLC, not you personally. So yes, Amazon only sees the EIN and the business name

Canadianleaf · #18 07-16-2018

Quote:

Originally Posted by ScottieBoi

People are getting EIN and LLC confused. An EIN is free from the IRS. A person can only get 1 EIN for life, so if you haven't gotten and used your personal EIN, do that. If you have, then open an LLC. You can do so by dealing directly with the state. No reason to use a service, as you can just do it yourself. Then you use that LLC to get another EIN. The EIN belongs to the LLC, not you personally. So yes, Amazon only sees the EIN and the business name

I dont recall the exact quote but I remember reading threads about this with jeff mentioning how Amazon attempts to match the EIN (Personal or LLC EIN) with IRS database and it returns a MATCH or NO MATCH. Does Amazon also attempt to match the name with IRS records? Wont work for a personal EIN, but a LLC name it would if this is true.

ScottieBoi · #19 07-17-2018

Honestly, I'm not sure. When I used my personal Ein, it was years ago. I used it on a stealth account before I knew what stealth was. I was just doing it on my own. Put my real name on the stealth account and it is still going strong. Not that I'm recommending to do that, but it worked for me