Creating a business model and declaring yourself a corporation is no easy task. In addition, following tax and business rules brings its own set of challenges. Luckily, on the filing side of things, keeping your business legal and up to date is much simpler, particularly if you do it all with irs-ein-tax-id.com. So what if you and your s-corporation are moving to a new state? Read on for the skinny.
Does My S-Corporation Need a New EIN if we Move to a New State?
As with a c-corporation, the answer is no. As long as you have registered your business properly and applied for and received an employer identification number (EIN) in your current or original state using a valid address, you do not have to get a new tax ID in your new state. Really, the only difference between a c-corporation and an s-corporation is how they are taxed. Of course, make sure you update your address and contact information at irs-ein-tax-id.com.
How do we get an EIN Again?
In case you forgot how to apply for an s-corporation EIN, let’s refresh your memory. As long as your business is located in one of the 50 U.S. states or any of its territories, you can visit irs-ein-tax-id.com and choose your tax filing status. Then, fill out the application. Finally, submit it. You will receive your new EIN on the same day, and usually within an hour of submitting it. If you sent your application after 9 p.m. you will receive it the next business day.
The same is true even if your company is a division of a corporation, if it declares bankruptcy, it changes its name or location, or even decides to be taxed as a C-Corporation. In addition, neither a company that survives a corporate merger and uses the original EIN, nor a corporation whose name or location changes due to a reorganization, nor even a corporation whose organization has been changed at the state level are required to get a new EIN.
While the answer to the question could not be any clearer, there are other reasons you would need to get a new EIN. So, just to put your mind at rest, as well as to arm you with information for the future, here is a rundown of those instances:
Under These, and Only These, Circumstances
Most S-Corporations who have to get a new EIN are required to as a result of some change in the status of their business entity or standing. For instance, a corporation that gets a new charter from the secretary of state will be required to file for a new EIN. Also, if your corporation is a subsidiary of a larger corporation and uses that organization’s EIN for tax purposes, you will have to get a new EIN. The same is true if your corporation becomes a subsidiary of a larger corporation.
Another eventuality that necessitates your corporation getting a new EIN is if its tax status is changed to either a sole proprietorship or partnership. Finally, any new company that has been created as a result of a statutory merger must file for a new EIN.
No matter how complicated it may seem, all you have to do is log on to www.irs-ein-tax-id.com to find the answers to all of your questions.