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Originally Posted by fadedstealth (Post 1093674)

I mean I honestly think this is the only way to go for myself since all my businesses were single members LLCs when I set up my stealth accounts, I hear a user by the name of Yankee has done S-corp for all his MP accounts but I have no knowledge on the subject. I wish there was more discussion on that topic.

Originally Posted by prodigyace (Post 1093683)

I would love it if yankee would shed some light on it lol

Originally Posted by prodigyace (Post 1093683)

I would love it if yankee would shed some light on it lol

Originally Posted by phaz0rz (Post 1091865)

I don't know if they're going onto state websites and verifying the owners of companies.

When I upgraded the one account I have in MP, this is how it went:
(this account was purchased as a stealth account here years ago and still had a 'stealth name' on file)
During the application they asked for my EIN, business name, SSN, and personal name. My LLCs are all single member so that is probably why they insisted on getting my SSN (see post #9). They accepted all the info I provided and my account details were automatically changed to reflect the real personal info I gave them. Then I gave them my LLC bank account and it's been smooth sailing since. I effectively changed my stealth account into a non-stealth account that has both my business and personal info on file.

If you want to talk about it somewhere else, I don't know what to tell you. I'm sure there are other forums but this is the best place to discuss it.

It remains to be seen what will happen when I'm forced to upgrade my other 2 US business accounts to MP. Hopefully since they each have their own EIN/business name, eBay won't be put-off by the fact I'm submitting the same personal information again. On my Canadian accounts I'm probably just screwed and will have to stop selling on them. I really don't know. This is just as much a threat to me as it is for everyone else.

Originally Posted by midwestman (Post 1091813)

I'm looking for info on this as well. I have a bak account and ebay account both in a business name both setup with EIN.. Will eBay ask for a ssn even though the eBay acc and ban acc are both setup with the same business llc?

Originally Posted by Cookieman189 (Post 1115869)

So, do you think creating a single member LLC is a bad move and I should convert it to a multi-member LLC? I just opened my bank account today. I don’t want PP or eBay to link me back to my old account through my SSN when paying taxes.

Originally Posted by phaz0rz (Post 1093582)

If you're going to try to multi member route, just please be aware of the differences in tax requirements.

TBH I've screwed people up on here in the past by recommending multi member LLC's because they took my advice then had a really hard time at tax time. :nono:

Originally Posted by phaz0rz (Post 1091835)

More EIN's and LLC's, most likely.

You should really go ahead and open a business bank account for the EIN/LLC you already have. eBay isn't going to allow you to link a personal bank account once you upgrade your account to MP, so you're going to need a business bank account in the name of your business.

When you go to open one, the only things you need to take to the bank aside from the standard two forms of ID are your articles of incorporation/organization, and your paper from the IRS with your EIN on it.

Originally Posted by LEARNINGONLY (Post 1119012)

Does each LLC and bank need a different address on it? Or can it use the same physical address on each one?