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Old 05-17-2016
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Default When selling on multiple accts, do you funnel through 1 EIN/LLC for IRS?

I know as far as Amazon is concerned, it obviously doesnt matter. What about for tax season at the end of the year. I have one account in one state, which is $400 to register. I really dont want to pay another $400 to open another one when some states are a fraction of that amount. All I am trying to do is get through the tax interview with Amazon and get it all out of the way.

My question is at the end of the year, does it matter if I submit all of those sales to the IRS under my other established business in a different state? Technically it will be a new EIN and LLC on the new account, but that is only for Amazon. I dont want to have to pay an accountant for another business entity in a different state if I dont have to, not to mention dealing with the tax implications of another state.

Those of you with multiple accounts, do you funnel them all through a main LLC/EIN at the end of the year or keep them all separate?

Thanks for any help.
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Old 05-18-2016
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Default Re: When selling on multiple accts, do you funnel through 1 EIN/LLC for IRS?

You have to file taxes for each business.

It's possible for you to set up one parent LLC and have all your other LLC's be a part of that, so you could file taxes for all your LLC's at once. However I'm not a tax expert and I'm not familiar with the process. I believe Solefoodbk has this type of setup if you want to ask them about it. I know it can be done through legalzoom. I'm not sure if you can do that with LLC's in multiple states though. But hey, it's something for you to look into!
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