Advice about single-member LLC EIN - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Marketplace Discussions > PayPal Talk

PayPal Talk PayPal Forums. General issues related to PayPal.

Reply
 
Thread Tools
  #1  
Old 03-26-2016
Junior Member
 
Join Date: Jan 2015
Posts: 65
Thanks: 93
Thanked 5 Times in 5 Posts
Activity: 3%
Longevity: 38%
iTrader: (0)
Default 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 )

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?
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 03-26-2016
aspkin's Avatar
Administrator
 
Join Date: Jan 2007
Posts: 10,648
Thanks: 2,888
Thanked 3,692 Times in 1,574 Posts
Activity: 46%
Longevity: 100%
iTrader: (24)
Default 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
__________________

Notice: Do not PM me. I get too many PMs to answer.
Please go to https://support.aspkin.com and submit a ticket instead.
Reply With Quote
  #3  
Old 03-26-2016
Junior Member
Threadstarter  
 
Join Date: Jan 2015
Posts: 65
Thanks: 93
Thanked 5 Times in 5 Posts
Activity: 3%
Longevity: 38%
iTrader: (0)
Default Re: Advice about single-member LLC EIN

Quote:
Originally Posted by aspkin View Post
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
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.
Reply With Quote
  #4  
Old 03-31-2016
jeffweico's Avatar
Executive [VIP]
 
Join Date: Mar 2010
Posts: 7,219
Thanks: 895
Thanked 4,061 Times in 2,168 Posts
Activity: 0%
Longevity: 75%
iTrader: (12)
Default 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.
Reply With Quote
The Following User Says Thank You to jeffweico For This Useful Post:
camouflage (03-31-2016)
  #5  
Old 04-05-2016
Junior Member
 
Join Date: Oct 2011
Posts: 17
Thanks: 3
Thanked 1 Time in 1 Post
Activity: 0%
Longevity: 63%
iTrader: (0)
Default Re: Advice about single-member LLC EIN

Quote:
Originally Posted by camouflage View Post
Hi guys..

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

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?
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
Reply With Quote
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
New IRS Rules for Single Member LLC / Amazon tax wizard Foxhound Amazon 13 04-05-2016 04:54 PM
New UK member - advice needed aamtheman UK eBay & Paypal 2 12-10-2015 05:47 PM
New member, need advice! financialsplus eBay Discussion! 10 08-28-2015 07:06 AM
New Member Seeking Advice sillytally69 eBay Suspensions 12 02-24-2014 01:45 AM
Need some advice- family member wants to sell on ebay xoxbabiixtina eBay Discussion! 2 06-06-2011 03:28 PM


Aspkin Group

All times are GMT -5. The time now is 06:45 PM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts