![]() ![]() If you have no employees but may hire some at some point, an EIN allows you to do so.There are several reasons to have an EIN, even if you’re not required to have one in Illinois. ![]() Real estate mortgage investment conduits.Trusts, except certain grantor-owned trusts, IRAs, Exempt Organization Business Income Tax Returns.Are you involved with any of the following types of organizations?.Do you withhold taxes on income, other than wages, paid to a non-resident alien?.Do you file any of these tax returns: Employment, Excise, or Alcohol, Tobacco and Firearms?.Do you operate your business as a corporation or a partnership?.If you answer yes to any of the following questions, you need to obtain an EIN in Illinois: The IRS has established simple rules for which businesses require an EIN. It is used by employers for filing taxes and is generally required for businesses when they open a business bank account. It also identifies the taxpayers who are required to file tax returns for the business. It is also known as a Federal Tax Identification Number (FTIN), or sometimes for corporations, it’s called a Tax Identification Number (TIN).Īn EIN is used to identify US businesses and contains information about the state the company is registered in. Your Employer Identification Number, or EIN, is like a social security number for your company, allowing the IRS to easily identify your business. What is an Employer Identification Number (EIN) for LLCs? Here you will find all the details of the process. In Illinois, the process of obtaining an EIN is simple. When you start a limited liability company (LLC), in most situations you will need to obtain an Employer Identification Number (EIN). ![]()
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