When applying for an employer identification number (“EIN“) on IRS.gov you must provide the legal name of the LLC that is applying for the EIN. After all, banks require a separate EIN for each series and each series is a separate entity for all purposes.

Do series LLC file separate tax returns?

For now, the IRS regards the series LLC as one big entity. This means, each series within the structure is not considered separate companies and therefore does not require separate returns. Of course, you will have to declare any income you’ve gained from your series LLC, and we’ll elaborate on that below.

What is the difference between a series LLC and a professional LLC?

Professional LLCs The main difference between a LLC and a PLLC is that only professionals recognized in a state through licensing, such as architects, medical practitioners and lawyers, can form PLLCs. The articles of organization are similar to those for a standard LLC, but extra steps are necessary to file.

When do you do not need an EIN for a LLC?

A single-member LLC will not need an EIN if both of the following requirements are met: It does not, or will not, have any employees. If you have a single-member LLC that will be taxed as a sole proprietorship and you do not have any employees, you will use your personal Social Security number for any tax filings.

What kind of tax ID do I need for a LLC?

You want to file Form 8832 (Entity Classification Election) so that you can be taxed as a corporation. You plan to file Form 2553 (Election by a Small Business Corporation) so the LCC can be taxed as an S-corporation. You’re opening a bank account or applying for a loan.

Do you need an EIN for a sole proprietorship?

It does not, or will not, have any employees. If you have a single-member LLC that will be taxed as a sole proprietorship and you do not have any employees, you will use your personal Social Security number for any tax filings. An EIN will be required for an LLC if any of the following apply:

What do I need to file an EIN?

An EIN will require filing Form SS-4, Application for Employer Identification Number, with the IRS. This can be done online, by fax, or by mail. Online filing will get you an EIN immediately, filing by fax will take about four days, and by mail a bit longer.