GOVSIMPLIFIED

GovSimplified is a document preparation & filing service and cannot provide legal, financial, or other professional advice. We do not review the information you submit on a professional, legal or accounting level as we are not, nor are we affiliated with any attorneys or accountants. You can obtain an EIN yourself at no charge with the IRS but we won’t be able to assist you. This website is not affiliated with the US Department of Treasury or the IRS.

Limited Liability CompanyTrustSole proprietor / IndividualPartnershipCorporationNon-Profit OrganizationEstate of Deceased IndividualS-Corporation

Reasons You Need a Federal EIN

Hire employees
Start or purchase a business

Operate a business
Open a business bank account 
Create a Trust, Estate or Non-Profit
Open a Corporation or Partnership
Form a Limited Liability Company
Need to file a Tax Return
Death of an individual
Comply with the IRS

 

Get your Federal EIN Number Today 

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Choose One Option Below

Church Controlled Organization

Personal Service Corporation

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GOVSIMPLIFIED
Get your Federal  EIN Today

Reasons You Need a Federal EIN  Number

Hire employees
Operate a business
Open a business bank account 
Create a Trust, Estate or Non-Profit
Open a Corporation or Partnership
Form a Limited Liability Company
Need to file a Tax Return
Death of an individual

GovSimplified is a document preparation & filing service and cannot provide legal, financial, or other professional advice. We DO NOT review the information you submit on a professional, legal or accounting level.  You can file an SS4 form yourself at no charge with the IRS but we won't be able to assist you. This website is not affiliated with the US Department of Treasury or the IRS.

Rated 9.2 out of 10 (1.394 Reviews)

100,000+ businesses used this online assistant

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Not Sure Which One to Select?

Over 70% of EINs selected are either a Sole Proprietor, LLC, or Corporation. Here are the differences:

Sole Proprietor / Individual

Advantages

Easiest & least expensive to create

Owner has COMPLETE control over the company

Lowest tax rates

Not required to hold annual meetings or report to shareholders

Disadvantages

You can be held personally liable for business debts, obligations, and lawsuits. Your personal wealth & assets are linked to the business

Limited life - when you die, so does the business

Can be difficult to get outside funding

Examples of Typical Sole Proprietorships

• Catering Company

• Lawn Service

• Maid Service

• Freelancers

Limited Liability Company (LLC)

Advantages

Limited liability - the business is a separate entity from your personal finances. The business is susceptible to lawsuits & debt, but you are not

Few restrictions on sharing profits among LLC members

Not required to hold annual meetings or report to shareholders

Disadvantages

Profits may be subject to self-employment taxes

Some states require LLCs to have more than 1 member

In some states if a member of the LLC leaves, they can dissolve the business & force the other members to fulfill obligations

Examples of Typical LLCs

• Rental Properties

• Law Firms

• CPA Firms

• Investment Companies

Corporation (C-Corp)

Advantages

The ability to offer Initial Public Offering and sell stock to raise capital

Limited liability - the business is a separate entity from your personal finances. The business is susceptible to lawsuits & debt, but you are not

No restrictions on ownership

Easy to transfer ownership/stock

Disadvantages

Subject to "double taxation" at the corporate AND individual level

More complex tax laws & legal requirements

Are required to hold annual meetings and report business information to shareholders

Examples of Typical Corporations

• Publicly traded companies

• Large companies

• Companies that are looking to raise a large   

  amount of capital