Announcement

Collapse
No announcement yet.

partnership closing? new ID#

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    partnership closing? new ID#

    Father and child, own a active business as a LLC treated as a partnership, father owns .09 child owns 99.91%. Father is leaving. So only one partner-Can the child change LLC from a partnership to a single member LLC and not have to get a new ID#, name etc. This is a medical business so changing ID number or name is a pain. Business is in Delaware..

    #2
    Sort of. Yes, no, both.

    If the LLC continues to exist, the LLC is not required to get a new EIN.

    However, the EIN of the LLC is used for things like Employer tax returns, Retirement Plans, and Excise Taxes. For income taxes, you don't really use the EIN of the single-member LLC (disregarded entity). For that, you use the Social Security Number or EIN of the owner. So when filling out a W-9, you use the owner's name and ID number, NOT the LLC's.

    As for which ID the medical aspect (insurance, etc.?) needs, I don't know.



    Limited Liability Companies ... You will not be required to obtain a new EIN if the following statements are true: ... The number of members in the LLC changes from more than one member to a single member.

    https://sa.www4.irs.gov/modiein/indi...p/help-toc.jsp

    Comment

    Working...
    X