BizTerm Definition
Short Definition
Employer ID Number
Full Definition

After forming your corporation or LLC, you will need to obtain an Employer Identification Number (EIN or Federal Tax ID). This is like your company?s Social Security number. Your bank will require your corporation or LLC have an EIN to open an account, apply for loans etc. You will also need an EIN if you hire any employees.

Also known as:  Tax ID, Federal Tax ID, Employer ID Number

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