Q.What is an Employer Identification Number (EIN) and do I need one?

A.An Employer Identification Number (EIN) is also known as a federal tax identification number, and it is used to identify a business entity. An EIN is to business what a social security number is to an individual. Generally all businesses need an EIN, except the sole proprietor with no employees. However, sole proprietors who must pay federal excise or payroll taxes will need an EIN.

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