Get an Employer Identification Number For LLC in New York

Last updated on: July 14, 2021

What is the Employer Identification Number (EIN)?

When you start your company, the state needs a way to distinguish you from other companies. One way is by requiring a unique name. However, this is not enough and you need to make yourself even more distinguishable. To do this, the authorities give you a tax ID number known as an EIN. It can be confusing to understand if and when you need a New York State EIN number. In truth, this number is essential in several aspects of business operation. These include generating payrolls, paying taxes, starting a bank account and many others. Understanding how an EIN New York works and how to get one is thus crucial.

What are some synonyms for EIN?

Many people compare this number with the SSN given to individuals and it pretty much serves the same purpose but for companies. It is also known as:

  • Federal Employer Identification Number
  • EIN Number
  • Federal Tax ID Number
  • Federal Tax Identification Number
  • Federal Employer ID Number
  • FEIN
  • Employer ID Number
  • Employer Identification Number
  • Federal Tax Number

Why does an LLC need an EIN in New York State?

Not every company needs this number. However, it comes with many benefits and it’s a good idea to apply for one. After all, you can get an EIN for free from the IRS!

This number is necessary if you have employees as you will need to generate a payroll for them. Please note that this also applies to a company with more than one member. Even if your company does not fall into these categories, getting this number helps you in:

  • Opening a bank account: most institutions will require you to provide this number. Given that you must separate your finances and have an account to exude professionalism, it is in your best interests to have this ID. Plus, having such an account makes it easier for you to obtain loans by building a relationship with the financing institution. You also appear more credible to investors and other stakeholders who want to see that you are properly tracking your expenses and revenues.
  • Hiring people: while you may not expect to hire people in the beginning, you may have to as the business grows. The government requires that employees file separate taxes and you must have this ID to generate a payroll for them. Plus, you cannot register for taxes if you do not have this ID. Instead of waiting for payday to get things in order, generate your number as soon as you get your company approved.
  • Protecting your assets: by having this number, you will reinforce your limited liability protection. Plus, it makes it easier to ward off identity theft.

These are but some of the benefits that accrue from making an application.

How To Find the EIN for your Business

You can easily locate your NY state EIN number via:

  • IRS receipt: once you make your application, the authorities will send you a notice to confirm the receipt of the same. It will have your number on it. If you can access this, you will have solved your problem.
  • Bank: in most cases, institutions will insist that you give them your ID copy as they open your account. You can call your bank and ask to find an EIN copy. Alternatively, you can peruse your bank-related documents and check for the number.
  • IRS by phone: you can always call the IRS and ask them to get you the number. The operator is available on weekdays from 7 in the morning to 7 at night EST. Please note that this only works if you’re authorized to access such information. If not, you will need the assigned person to make this contact.
  • Payroll: from the money you have paid to yourself and employees, you are likely to have indicated the EIN state of New York at some point. Go through previous payments and portals and see if you can locate it.
  • Taxes: while filing returns is not your preferred task, it requires that you include crucial details about your company. And this includes the ID. Look at past returns and you will be sure to find it.
  • Website: this business search by EIN New York works if you are a publicly held company. Locate the SEC database and on the filing documents, you will see the ID.

How to get an EIN number in New York

Before making an application, you have to ensure that you are formally approved to conduct business. Otherwise, you can still get an ID but it would not help you as it would not be tied to your company. Once you have your confirmation, you can get your ID via:

Online

If you are looking for the easiest and fastest way to get your ID, this is the best option. You can get it at anytime from 7 in the morning till 10 at night but for the online application process to go through, you need to have a valid taxpayer ID. Once you start the session on the Internal Revenue Service (IRS) website, you have to complete it within that session with a limit of 15 minutes. If you cannot, you will have to start over as the site does not save your information. Please note that you will get the ID immediately you file the EIN online.

This option is not available to you if you have used it before or lack a valid taxpayer ID. If you fall into these categories, it helps to consider the below alternatives:

Mail

In this case, you need to access and fill form SS4 and send it to:

Internal Revenue Service Operation
Attn: EIN Operation
Cincinnati, OH 45999

FAX

You will use the same form as if you were filing by mail, only that this time, you will send the application to:

(855) 641-6935

Phone

This option works for international applicants who do not have valid IDs and cannot make an EIN application by mail or fax. You will need to fill out the SS4 form and can leave 7b blank. You will then call the IRS on 267-941-1099. They are available on weekdays from 7 in the morning to 10 at night EST. Please note that this is not a toll-free number and you will incur charges for connection. It can take up to an hour to complete the process, more so when you call on a Monday. To save time and money, call using a web calling service and do so on days other than Monday.

You should get a confirmation on the same day when you use an online application. For fax and mail applications, the waiting time is 4-7 business days and 4-8 weeks respectively. Please note that you are not subject to any fees when accessing this service as it is completely free. However, if you choose to use a third party to do this for you, New York state EIN application service costs will apply.

Senior Business Tax Writer, etc
Jean Wilson Murray
https://bestllcservices.co/
(323) 789-5289
Senior Business Tax Writer, etc
Jean Wilson Murray

In this IncFile vs ZenBusiness review, we're going to compare two of the most popular LLC formation services based on pricing, features, and drawing out differences and similarities to let you see which is most suitable for you and your business.

You can learn more about @Mike here.

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