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Old 01-12-2014
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Default Is tax id same as ein?

Ok I've been reading a bit about ein on here. Just have a fee questions

Is tax I'd same or can be used the same as ein? I suspect not
If I use ein or tax id when making a PayPal do I need to use the address I register when obtaining the ein or tax I'd. I've read yes, but have also read no.
With the ein or tax I'd now submitted to PayPal I don't have to worry about staying under the 200 sales limit, true?

Thanks mates
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Old 01-12-2014
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Default Re: Is tax id same as ein?

your ein and tax id are essentially the same. You will have no issue with breaking the 200 and 20k verification limits because you will use your Tax ID. They may still ask for other info such as supplier info, profit/loss statements, etc..
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Default Re: Is tax id same as ein?

your screen name makes me assume you're a bmw enthusiast like myself, I have e90.

any who, EIN/Tax id is the same - if you attach it to your paypal, then you won't have to worry about the 200/20k limit - but you do have to your taxes.

I believe you do not need to have same address - just the correct business name.
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Old 01-13-2014
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Default Re: Is tax id same as ein?

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Originally Posted by Pasicel View Post
your screen name makes me assume you're a bmw enthusiast like myself, I have e90.

any who, EIN/Tax id is the same - if you attach it to your paypal, then you won't have to worry about the 200/20k limit - but you do have to your taxes.

I believe you do not need to have same address - just the correct business name.
I like the look of the e90, but just feel that the interior is not as good as the e46. Was alcantara ever an option on the e90? Well, why not just get like 4 companies and get ein for each of them? if all you have to do is file taxes. Do they raise you pass 200/20k with ein or just everyone with ein gets 200/20k limit? Hey do you know if amazon asks for ein or social security?
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Default Re: Is tax id same as ein?

Quote:
Originally Posted by bmwe46zhp View Post
I like the look of the e90, but just feel that the interior is not as good as the e46. Was alcantara ever an option on the e90? Well, why not just get like 4 companies and get ein for each of them? if all you have to do is file taxes. Do they raise you pass 200/20k with ein or just everyone with ein gets 200/20k limit? Hey do you know if amazon asks for ein or social security?
Not too sure about the alcantara interior. I have me an M sport bumper, bms powerbox, afe airintake, and finally invested in a CSL trunk. think im done modding for awhile lol.

You can, and some people do - most try to avoid the EIN request by spreading out the sales by multiple stealth accounts.

Attaching an EIN does not increase limits - it simply just allows you to continue to sell if you ever hit the 20k YEARLY limit.

Unfortunately, I don't do business with Amazon so i can't answer that question, I'd search around here
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Old 01-13-2014
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Default Re: Is tax id same as ein?

In the US, at the federal level, the term Tax-ID means ANY number that you use to report and pay taxes to the IRS. It could be a Social Security Number (SSN), Employer Identification Number (EIN) or an International Taypayer ID (ITIN).

So, yes, they basically mean the same thing.
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Old 01-16-2014
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Default Re: Is tax id same as ein?

Thanks mate
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