As the owner of a newly formed LLC, do I pay estimated taxes under my SSN or EIN? Or both?

[SW2023]

During the previous tax year, I was self-employed as an independent contractor and paid estimated taxes under my SSN. This year, I have continued to make estimated tax payments under my SSN. But since having formed an LLC, should I be making estimated tax payments under my EIN instead?

[Laura_CPA]

Hi SW2023,

If you are the only member in the LLC, you may continue to use your social security when paying your estimated tax payments (since you will be filing Schedule C, there's a place on that schedule that you may provide your EIN). 

Hope this helps,

Laura 

[SW2023]

Thank you, Laura!

[KarenL4]

Hi,

If you are a sole proprietor with an LLC, continue to make your estimated payments using your social security number. The LLC is what the IRS calls a "disregarded entity."

These resources may be of assistance if you want to learn more..

https://www.irs.gov/businesses/small-businesses-self-employed/online-ein-frequently-asked-questions

https://www.irs.gov/pub/irs-pdf/p1635.pdf

Hope this helps!

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Best,

Karen

[SW2023]

Thank you, Karen!