swbluto | 09-19-2015 08:03 PM | Getting sole proprietorship EIN directly from IRS.gov for paypal? It seems you can apply for an EIN directly from the IRS website, and they seem to give a choice between sole proprietorship, LLC and corporations. See application link below... Apply for an Employer Identification Number (EIN) Online
Would a sole proprietor EIN work well with PayPal? Could PayPal find out the name and associated SSN on the EIN?
It seems like there is an advantage to a sole proprietor EIN since it doesn't have the same regulations, paperwork and costs as an LLC. Only downside is that it doesn't have the same legal protections that an LLC "supposedly" has, but it turns out you only really have those legal protections if you have a multimember LLC and that's assuming that your other members aren't proven in court to be "sham members".
Is there any particular disadvantage to a sole proprietorship EIN? |