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-   -   Sole prop or Corp (https://www.aspkin.com/forums/amazon/132705-sole-prop-corp.html)

livingtree 01-10-2020 10:44 PM

Sole prop or Corp
 
Trying to create a Amazon Pro account. This is not a stealth account so all the information will be real. I'm not sure if i should open a Sole proprietorship business account first or just open a Corporation.

Is it possible to open a Professional account with a Sole proprietorship business license?


Any advice would be appreciated.
Thanks

Canadianleaf 01-10-2020 11:15 PM

Re: Sole prop or Corp
 
Quote:

Originally Posted by livingtree (Post 1060853)
Trying to create a Amazon Pro account. This is not a stealth account so all the information will be real. I'm not sure if i should open a Sole proprietorship business account first or just open a Corporation.

Is it possible to open a Professional account with a Sole proprietorship business license?


Any advice would be appreciated.
Thanks

multi-member llc or s-corp / c-corp only work for stealth.

sole prop wont work, requires a SSN. LLC = disregarded entity and requires a SSN

BarredBunny 01-10-2020 11:22 PM

Re: Sole prop or Corp
 
Quote:

Originally Posted by Canadianleaf (Post 1060858)
multi-member llc or s-corp / c-corp only work for stealth.

sole prop wont work, requires a SSN. LLC = disregarded entity and requires a SSN

Im curious about this couldn't you simply apply for an ein and submit that instead like most sole props do for ebay/paypal but to amazon?

http://www.irs.gov/Businesses/Small-...r-(EIN)-Online

Canadianleaf 01-10-2020 11:55 PM

Re: Sole prop or Corp
 
Quote:

Originally Posted by BarredBunny (Post 1060859)
Im curious about this couldn't you simply apply for an ein and submit that instead like most sole props do for ebay/paypal but to amazon?

http://www.irs.gov/Businesses/Small-...r-(EIN)-Online

No because its a disregarded entity (single member LLC). A disregarded entity refers to a business entity with one owner that is not recognized for tax purposes as an entity separate from its owner. amazon will attempt to verify the persons name and (ein or ssn, forget which one) with the IRS.

if its not a disregarded enttiy, amazon matches the business name and EIN with IRS database, ie: multimember llc, s-corp, c-corp etc.

TDLR: single member LLC's wont work.

livingtree 01-11-2020 01:37 AM

Re: Sole prop or Corp
 
Quote:

Originally Posted by Canadianleaf (Post 1060858)
multi-member llc or s-corp / c-corp only work for stealth.

sole prop wont work, requires a SSN. LLC = disregarded entity and requires a SSN

what if its not stealth? would sole prop work for pro accounts?

Canadianleaf 01-11-2020 02:01 AM

Re: Sole prop or Corp
 
Quote:

Originally Posted by livingtree (Post 1060868)
what if its not stealth? would sole prop work for pro accounts?

Heres a rule of thumb:

Disregarded entity (soleprop / SMLLC): legal name / ssn must match IRS.

Non-Disregarded entity (MMLLC, SCorp/CCorp): business name / ein must match IRS.

amazing4 01-22-2020 07:37 AM

Re: Sole prop or Corp
 
Do you have a company? Better make an LLC instead of making it on some person. If you do not have a company, then you should choose individual.


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