New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.

Answers

EIN or ITIN for a Canadian doing business in the US

Asked by: rodrey  — 6 February, 2012

Hi, I am a horse trainer in Canada i want to do business in the US. What do I need – a ITIN number or EIN number?

Answered by: admin  — 6 February, 2012

Rodrey,

According to the IRS, ITIN??™s are issued to foreign nationals who have federal tax reporting or filing requirements, and do not qualify for social security numbers.

Generally, you must obtain an EIN if you have employees, your business is an LLC, corporation or partnership, you withhold taxes on income, or you file taxes returns for employment, excise, or alcohol, tobacco and firearms. If you pay contractors, or anyone for services valued at more than $600 in a calendar year, you may also need an EIN.

You may be required to obtain either or both of these tax ID??™s, depending on the circumstances. Depending on the state, you may also need to obtain state and local business licenses. We can fully research all tax registration and licensing requirements. We offer the expertise of our licensing specialists at convenient flat rates. Please visit our website for more information.

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