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Advice about single-member LLC EIN
 

Hi guys..

So i'm very confused right now and really need some advice before i get screwed. (i hope not yet :s)

Last month i applied for an Single Member LLC EIN. And i attached it to one of my personal stealth account PP. So i upgrade it and use my business name on that. I read on other thread that PP can see my real name if i use Single Member LLC EIN.

My questions are, is my stealth account already link to my real account?
Do i need to change my EIN to become Multi Member LLC EIN?
If it's too late, what is the best advice that i can do right now?

Is that right to get multi EIN, i need to create LLC?

Re: Advice about single-member LLC EIN
 

You seem fine... there are tax advantages to multiple member LLCs but I haven't heard to any differences between single and multiple member LLCs when it comes to PayPal...

Question: Where did you register your LLC?

**Some states give you better privacy over others **they won't share your name or address

Re: Advice about single-member LLC EIN
 

Thank you for quick respond. :)
I haven't file LLC yet, only EIN. my location now is in NY.
Is paypal gonna link my stealth acc with my real acc?
I just afraid when paypal send 1099 to IRS they will find out my information doesn't match. :faint:

Re: Advice about single-member LLC EIN
 

I wouldn't worry about it not matching your name if the business name is correct. I really don't see that as an issue.

Unless you do something to link the accounts, then no, PayPal won't be able to link them. PayPal can only take the information YOU give to them, the BUSINESS NAME and the EIN in this case, and come back with a "MATCH" or "NO MATCH" code. The IRS does not correct any information or give them any information. They can't, by law.

Re: Advice about single-member LLC EIN
 

What about amazon in this situation in 2016.... If you registered your EIN as a single member LLC how do you change it or is this vital? Is it easy to add members to a single member LLC EIN