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Old 03-03-2017
phaz0rz's Avatar
phaz0rz phaz0rz is offline
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Default Re: How many paypal can you have? Should I use Tax ID or ssn?

DO NOT use the same Tax ID on two accounts, as doing so will link the accounts. You probably wouldn't notice anything at first but as soon as Paypal sends 1099's for you and notices the two accounts with the same SSN, both accounts will be limited.

It's best to only use your SSN on one account (which most of us can't do anymore) and then use a unique EIN on each account you want a tax ID on.

Different states have different reporting requirements for businesses. In my state I'm not required to report anything at any point, other than when I file my taxes. In certain states (Mass, for example) you have to pay a large sum each year to renew your articles of incorporation.

On the federal level at least, I don't believe there's anything wrong with leaving a Tax ID inactive. I have a two year old EIN I've never used. I never registered that business with my state though so they aren't really concerned.

Just for the sake of keeping business and personal affairs separate, I recommend using your EIN if you decide to give a Tax ID. Then open a business bank account and have your transfers go there.
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