| yankee | 10-04-2014 09:13 PM |
Re: Question about 200/20000 sending EIN?
Quote:
Originally Posted by hustler_nyc
(Post 594786)
DIRECTLY FROM IRS WEBSITE:
Sole Proprietors
You will be required to obtain a new EIN if any of the following statements are true.
You are subject to a bankruptcy proceeding.
You incorporate.
You take in partners and operate as a partnership.
You purchase or inherit an existing business that you operate as a sole proprietorship.<---
The last line could easily apply to ebay. I feel like just getting multiple EIN'S and use them while obviously making sure the accounts you have EIN'S have with out a doubt TOP customer service. This COULD work right?
| No. The original EIN will no longer be valid. The only reason the IRS even allows one to operate under a Sole Proprietor is because it is the most taxed entity...It is the worst entity for liability, tax liability for almost all situations and quite frankly, other than being free, can not think of one other reason why you would want one....
You can only have one EIN as a sole Proprietor, Period.
I along with others have beat this topic into the ground. If you don't like what you hear, ask a different question or better question.
I would highly recommend an adviser.
To answer your last question, of course it works. | 
