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Federal Tax Number for Online Business

Asked by: Wanda McDaniel - 20 September, 2011
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8 Do I need a Federal Tax Number for business online? If so can I use my SS number?
Answered by: Monique Blanchard - 21 September, 2011
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/50.jpg-60aa8d118f025d90495307344c27caa8 Wanda,

Online business is a business like any other business. If you plan to form a corporation (or LLC taxed as corporation), if you have partners, or if you have employees you would need to obtain a Federal Tax ID (called EIN).

You can use your SSN as a tax ID for your company only if you do not have employees and your business is a sole proprietorship or a single member LLC (in which case it will be taxed as disregarded entity).

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