Forum

Yeah, the rest of the stuff is just leg work...It's just working around a social for 10 accounts...How is that done! Again, most of my items are on that paypal only list. Also, are merchant accounts a pain to set up?

10 accounts: I suggest setting up LLC and DBA for those, spread out over a week or two (if you have the funds for the paperwork).

Merchant accounts are sometimes easy, sometimes a pain. Me, I never really got the hang of it, so it's not easy for me. If your credit is poor, you're in for some work. If your credit is half decent, you should have very little difficulty.

So what you're saying is, by setting up the DBA or an LLC...what???No socials then...Are saying id use like a tax ID or something? As far as my credit...It's fine...As long as I get reinstated in 6 days...LOL.

Yep. LLC with a DBA. Make the LLC any generic name. ABC Widgets. Get the DBA in something that resembles a name. Mitchell Paul. Then get an EIN. That is the SS# for a non-living entity. BUT, Uniform Commercial Code and corporate law dictate that a corporation has all the priviledges that a living person has. So, if you do that and stick to your guns, you can refuse to disclose your personal SS#. Legally, it stands. You register Paypal in the business name and use the EIN when they want a SS#. If they want a human name, you give the DBA.

Wow...That's exactly what I was thinkin' about 7 hours ago and I just HAD to overcomplicate it. The answer was staring me right in the face the whole time. Anyone else have experience here. It SEEMS easy enough, right? Do they give out EIN's for just DBA's or do you need an LLC. Could you do away with the LLC aspect. Or could you just get away with something like a sole proprietorship?

One more thing...Will this work on personal paypal accounts or do you need business ones...I guess personal would be fine, right?

You could do a sole propreitorship, but LLC gives more legal benefit and protection. You can apply for the EIN before having the LLC or DBA. The EIN goes to the LLC, so when you apply for EIN, make sure you have already decided the name for your LLC. You can take up to several weeks to organize the LLC after you have the EIN. The DBA is just a name game, nothing of real significance. But DBA is helpful to have.

The DBA you can do without. The LLC is important. You can't put an EIN on a DBA.

Ok, we're stepping on each other here.

You get the EIN for the LLC. If you want the Paypal to NOT be business class, you use the DBA instead of your name, when you apply. Later, when you have to confirm an SS, you give the EIN. If PP don't catch it, all is good. If they say they can't confirm the EIN to the DBA, you then send the LLC to back it up. But then you'll probably have to upgrade PP to business class. I've never done it as personal, I always set it up as Premier right from the start and go with LLC for name of business and DBA for first and last name (where it asks for the human name). I have never had to explain it to them. I just wait until they ask me to fax everything.

Can you set up multiple DBAs under one LLC?

Nevermind...I just figured it out. Only one EIN per LLC. Sorry.

Absolutely. But you wouldn't want to for this purpose. When you use an EIN as a substiture for SS#, if your account gets nuked, that EIN is no good to reuse, just like an SS would be good only one time.

DBA does not get an EIN. If you have 20 DBAs, you don't have 20 EINs. LLC gets the EIN. So, if you want multiple PP, you need multiple LLC to have the multiple EIN.

This is so much easier to explain vocally over beer...

Example:

My name is hypothetically Sam (the LLC). My friends might call me Butch (DBA1), my neighbors might call me Killer (DBA2), my sister might call me AssMunch (DBA3), etc. etc.

Sam has an SSN (LLC has EIN). Butch, Killer, and AssMunch do NOT have an SSN (EIN).

Now you see where the DBA fits in? PP can call me Killer and they think it's my name. Even though I give them Sams SSN. The paperwork you file for the DBA legally allows you to use the LLC's EIN under the name of the DBA.

I don't have an LLC, but I opened business paypal in another name (DBA) and DO HAVE EIN with that DBA that I would give PayPal if they ever ask for social... Am I missing something?

So how did you get EIN without LLC?

I just registered new business name with the county office where I live, but I got my Federal Tax ID/EIN from IRS website. I believe it is form SS-4.

Go to Internal Revenue Service this is what's there among other things:

Apply Online
The Internet EIN application is the preferred method for customers to apply for and obtain an EIN. Once the application is completed, the information is validated during the online session, and an EIN is issued immediately. The online application process is available for all entities whose principal business, office or agency, or legal residence (in the case of an individual), is located in the United States or U.S. Territories. The principal officer, general partner, grantor, owner, trustor etc. must have a valid Taxpayer Identification Number (Social Security Number, Employer Identification Number, or Individual Taxpayer Identification Number) in order to use the online application.

I was never able to get one for a DBA, in years past. Maybe they have loosened up a bit? Or perhaps when you are registering your business, you are getting more than just the DBA without realizing it?

Where I get my DBAs, it costs like $15. I get 2 pages. One is a page with the particulars and the other page is just the boilerplate. And nowhere on it does it say it IS a business. It says that XXX business is allowed conduct activities under the name of YYY.