An EIN, or Employer Identification Number, is a unique nine-digit number issued by the IRS to identify your business for tax purposes. It works like a Social Security number, but for your LLC. You need an EIN to hire employees, open a business bank account, and file federal taxes. Even single-member LLCs with no employees often get one for banking and compliance reasons. Applying for an EIN is free through the IRS, but many formation services offer to obtain one for you as part of their packages.
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