An Employer Identification Number is a business federal tax ID that works like a Social Security Number for your business – it is also known as a Tax ID number.
Your EIN helps you file tax returns for your business. It is typically required to open a business bank account under the name of your business, helps you properly pay and account for wages and payroll for your company’s employees, and otherwise helps establish credit for your business and maintain your business’s official standing as a legal business entity.
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