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Old 03-26-2013
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Default Tax ID: Sole Proprietorship or LLC?

PP has asked for Tax ID, I don't mind getting an EIN but don't know which one to use??? Which one is better for solely paypal purposes?
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Old 03-26-2013
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If you are going to have a physical store you need an LLC. If it is a side home business Sol P is what you need. Either way it will give you the requirements for an EIN, but keep in mind there are pluses and minuses for each, which you should talk to your tax advisor about. Both are public information, which can been seen by anyone, so be smart.
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Old 03-26-2013
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Quote:
Originally Posted by dhunter0294 View Post
PP has asked for Tax ID, I don't mind getting an EIN but don't know which one to use??? Which one is better for solely paypal purposes?
please speak to an accoutant/cpa as to which would be best for you. what works for one does not necessarily work for another
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Old 03-26-2013
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Start with this site

Internal Revenue Service

User friendly and is manned by EXPERTS.

Then take professional tax advice to ensure your choice is best for your needs.

Good Luck
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