Regarding names....

[boysangur]

There is plenty of conflicting info, some of which is probably outdated. Could someone please advise on this?

I am brainstorming the name part of the process. Would I be able to get a bunch of DBA's for myself and get EIN's for each? Stealth advises against it but is it worth a try, if it's even possible?

I do have a dormant company with an EIN. Will I be able to get more EIN's for this company and then just register as random names with those new EINs, as different supposed employees? Doesn't seem that it would work but would the many DBA's route work for a company?

Thank you

[hodgesdavid684]

My approach is to avoid giving anything to paypal. I run enough numbers of stealth accounts to cover up selling limits I need, and have a backup equal to that limit. Whenever it close to hit paypal 20K limit, I already have my backup ready, trash the account then start to create another backup. That way I would never running out of limit both on ebay and paypal and I could use any names and address I want.

[jeffweico]

What you are proposing can be done with LLC's but not as a sole proprietor. Does it cost a lot of money to register an LLC in your state? Is there some reason you would want to avoid taking this route?

[boysangur]

Originally Posted by jeffweico

What you are proposing can be done with LLC's but not as a sole proprietor. Does it cost a lot of money to register an LLC in your state? Is there some reason you would want to avoid taking this route?

I have a corporation with an EIN, which I created just before being suspended as I was planning on hiring someone but I never ended up using it. I guess you mean that I can create a bunch of DBA's for the corporation with different EINs?

[Emanresu]

As far as I know, a DBA does not get an EIN. A DBA is just an alias or a different name for your business/corporation/LLC. A DBA is not a separate entity.

A corporation/LLC can have one EIN. It can also be the parent to other newly formed corporations/LLCs that are created, each with their own EIN. When you create a corporation/LLC and apply for an EIN it requires an existing SSN or EIN. So you can apply using your personal information or you can apply using a corporation/LLC that you already own.

I have a corporation with an EIN, which I created just before being suspended as I was planning on hiring someone but I never ended up using it. I guess you mean that I can create a bunch of DBA's for the corporation with different EINs?

In your case, you could use that existing corporation with an EIN as a parent corporation. That parent corporation is then used to own the child corporations each with their own EIN.

I would suggest keeping it simple, create new LLCs as needed, each with their own EIN. I do not know why someone here would need to use a parent/child corporation setup.

[boysangur]

Thank you guys for all the help. I plan on using my corp for one account but there is no way in hell I'll be putting all my eggs in one basket again. eBay wants us to play by the rules, which screw people over it seems.

It doesn't seem that DBA is real option for a verified PP account.

Do you guys mostly just start an account with a random name and run it until it's limited, then start another PP account? For that purpose, you'd need everything but a name with a SSN, correct?

[Emanresu]

You can start an account. When the account gets bigger and gets close to the 200/$20,000 limits then you can change it to a business account with your corporation and EIN. You should have that corp and EIN set up before though so you are ready if/when PayPal asks.

What you could do - set up and run several stealth accounts. If something happens to one of them then you have others. One of the accounts will outperform the others. Then you change that one to the corporation.

[boysangur]

Thanks Emanresu.

Makes sense. If an account lives long enough to reach the 200/20000 threshold, would I be able to use any name and then change it to the corp name and EIN?

Finally, what are the chances of it getting the limits for info verification before 200/20000?

[MM78]

Originally Posted by boysangur

Finally, what are the chances of it getting the limits for info verification before 200/20000?

EBay also looks at projected sales.