Employer Identification Number
An employer identification number (EIN), or business tax ID, is a unique nine-digit number that you use when filling taxes for your business.
An EIN also helps you register a business entity, obtain a business loan, open a business bank account, and much more.
For some businesses, an EIN is a tax requirement. You have to get one—there’s just no way around it.
Getting an EIN is optional for other businesses, but there are good reasons toget one anyway.
In fact, there are some distinct advantages you stand to gain by applying for an EIN. And the good news is that applying for an EIN is free and takes just minutes, so you won’t be wasting precious resources by getting one.
Benefits of having an EIN
- Speed Up Business Loan Applications.
- Open a Business Bank Account.
- Establish Business Credit.
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