Category — Starting Up

The IRS has a chart that says whether you need an Employer Identification Number (EIN) here. The chart is misleading because you can follow the chart and conclude that you don’t need an EIN.

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While there are many kinds of business entities — C corporations, S corporations, LLCs, LLPs, Partnerships, and Sole Proprietorships — one of 2 choices will work for most businesses:

1. A single-person business should be a single-member LLC.
2. A multiple-person business should be a C Corporation.

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