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If I change my business structure mid year and receive a new EIN. Which EIN do I use when I file my Taxes ? Is there a way to use both? Does it matter which one I use?
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If I change my business structure mid year and receive a new EIN. Which EIN do I use when I file my Taxes ? Is there a way to use both? Does it matter which one I use?
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If I change my business structure mid year and receive a new EIN. Which EIN do I use when I file my Taxes ? Is there a way to use both? Does it matter which one I use?
For example, if you changed from a single member LLC to a multi-member LLC, you will be filing a final SCH C for the single member LLC showing the closure/disposition of that single owner business. Then you will file a completely and physically separate 1065 partnership return showing the acquisition/creation of a completely new business that is a multi-member LLC with two or more owners.
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If I change my business structure mid year and receive a new EIN. Which EIN do I use when I file my Taxes ? Is there a way to use both? Does it matter which one I use?
So DBA to LLC
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If I change my business structure mid year and receive a new EIN. Which EIN do I use when I file my Taxes ? Is there a way to use both? Does it matter which one I use?
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If I change my business structure mid year and receive a new EIN. Which EIN do I use when I file my Taxes ? Is there a way to use both? Does it matter which one I use?
The only difference between a DBA, which is a sole proprietorship, and a single member LLC for tax purposes, is the spelling. That's it. Both are considered a disregarded entity for tax purposes. Your business structure did not change one iota, while at the state level the business "type" may have. You had no need to apply for a new EIN. I recommend you not even use the new EIN.
If you use the new EIN then you have to close the old business with the old EIN, and open a completely new business with the new EIN. That means you'll be filing two SCH C's for the tax year, and just creating a bunch of unnecessary work on your part.
I suggest you ignore the new EIN and file one SCH C with the old EIN and press on with life. It doesn't matter that the name of the business may have changed either. File the SCH C with the most current business name under the old EIN and be done with it.
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If I change my business structure mid year and receive a new EIN. Which EIN do I use when I file my Taxes ? Is there a way to use both? Does it matter which one I use?
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If I change my business structure mid year and receive a new EIN. Which EIN do I use when I file my Taxes ? Is there a way to use both? Does it matter which one I use?
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