Limited Liability Company Tax ID
A limited liability company (LLC) is a favored structure for startup businesses. Limited Liability Company (LLCs) are formed with the benefit of providing limited liability protection for the owners. Although exact rules for setting up a Limited Liability Company (LLC) vary by state, general requirements are quite similar, for instance, obtaining a Limited Liability Company Tax ID Number also known as an Employer Identification Number (EIN).
A Limited Liability Company Tax ID Number/Employer Identification Number (EIN), is to a business what a Social Security Number is to an individual. The LLC Tax ID/EIN is used for taxes and banking, in addition, the LLC EIN identifies your company to the IRS.