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EIN is the abbreviation of the term Employer Identification Number which is also known by its other name; Federal Tax Identification Number. The EIN is issued by the Internal Revenue Security (IRS) to the business entities incorporated in the US which EINs are composed of unique nine-digit numbers and include the additional information of the state where the company is incorporated at.
Businesses that hire employees are required to have EINs, however, even businesses that do not hire employees also have their EINs.The IRS used EINs to identify businesses for tax purposes, such as business tax returns.
There are several advantages of having the EINs other than for the purpose of tax filings, which include the following advantages below:
Although, this may come as surprise to many people, having an EIN is an effective way to prevent your identity from being stolen as the owners’ business finances are separated from personal finances.
Having an EIN brings more credits to the business as it signifies that you have a proper business and you are one of the legitimate business owners.
Build trust with vendors
It is mandatory for businesses to achieve business goals, third parties are an essential part of the business. Thus, businesses need to rely on third parties; vendors, suppliers, and partnerships with other businesses to meet the set goals. Therefore, EINs would increase the chance the third-party businesses would likely to work with the businesses.
In addition, businesses having the EIN show to other businesses that your business is credible and responsible for on-time payments to the vendors.
If you are looking for the EIN registration for your USA current or future business with an affordable price of US$ 499 with 2 - 4 weeks application process, Offshore Company Corp is here to assist you through the process of EIN application for your USA business.
October of 2022 has become a successful month for Offshore Company Corporation (OCC) as we have partnered with SAP - world’s leading business management software producer - to streamline operations and improve our services.
In order to thank you for the long ride we've had over the past time, One IBC would like to bring you an exclusive OCTOBER SALE - Seasonal packages for those who wish to open an offshore company in Seychelles.
There are four rank levels of ONE IBC membership. Advance through three elite ranks when you meet qualifying criteria. Enjoy elevated rewards and experiences throughout your journey. Explore the benefits for all levels. Earn and redeem credit points for our services.
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