Quote:
Originally Posted by NemesisEnforcer
For sure, the payment processor will ask you to fill out a W-9 and you will need an EIN if you're using the name of the LLC. Yes, the LLC will need an EIN regardless of the number of employees. The EIN is tied to the fictitious name. If you complete the W-9 with the name of the LLC and use a TIN not assigned to the LLC, the IRS will contact the payment processor to correct the information. If not resolved, the payment processor will withhold 20% of the LLC's earnings and send it to the IRS.
Are you having a problem getting an EIN?
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well i was not sure if the ein was eligible for all the companies regardless of the number of employees or lackthere of.
Hmm so first the ein and then the tin for the llc. If the payment processor withholds the 20% that would be like the tax rate unless the company makes few money