Re: Taxpayer status
My advice is to start your LLC early. You'll want your company to show "active" when searched on-line which takes a couple of months. This also gives your lawyer ample time to prepare and send you your articles of incorporation paperwork so you'll have it ready when asked by PayPal. Bottom line: if your sales are robust, don't wait until PayPal asks for SS #, preplan and you'll be ready. An EIN number is not enough anymore, documents are often requested for upgrading. These may include ultilty bills, bank statements, letters in good standing by your state and others. Get creative and start planning ahead.
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