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What is an (EIN) Employer Identification Number? |
An Employer Identification Number (EIN) is a nine-digit number that Internal Revenue Service uses to identify the tax accounts of Employers and certain others who have no employees. EINs are used by Employers, Sole Proprietors, Corporations, Partnerships, Nonprofit Associations, Trusts, Estates of Decedents, Government Agencies, and other business entities.
If you are a sole proprietor, your social security number can be used on all of your government forms and other official documents, but most small business advisors recommend that you apply for an EIN and use that number instead. Furthermore, banks require an EIN in order to open a business bank account.
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