How To Get An EIN For Michigan LLC

Searching for the information related to Michigan EIN? Here is all that you should know about Michigan EIN (employer identification number). It is an important number that will allow you to perform various tasks and allow you to hire employees for your LLC. EIN is a nine-digit number that is assigned to your LLC by the IRS as soon as you create it. The internal revenue system uses this number to identify your MIchigan LLC as tax-paying and as legitimate. Once you completely form your LLC with the Michigan secretary of the state you have to apply for your Employer identification number as soon as possible. For helping you I have collected all the steps in which you can create your EIN.

How To Get An EIN in Michigan

As soon as you complete forming your LLC successfully, you have to apply for EIN. This EIN is an important thing and helps you to perform many financial activities. WIthout your Michigan EIN, you are not able to hire employees or you can not create a bank account in the name of your Michigan LLC. If you want to get an EIN you have to fill a form and submit it to the IRS. There are two ways in which you can fill out the form that is through PDF and another is through an online form. Let us learn about the steps that you have to take in order to get your EIN.

Step 1: First of all you have to visit the official website of the Internal revenue service and there you have to fill out the form as I have mentioned. Firstly, you have to select the type of structure of your LLC (partnership, sole proprietorship, single-member LLC, multi-member LLC, and corporation).

Michigan EIN

Step 2: Now, on the second step you will get a tab in which you have to provide the details related to the members in your LLC along with the Location of your LLC. 

Michigan EIN

Step 3: On the next page they will ask you the reason for which you are requesting Michigan EIN. 

Michigan EIN

Step 4: In this stage, you will be asked to provide the information related to the responsible party for the filing. In the field, you have to provide the first name, middle name, and last name of that person including the Social security number / Individual taxpayer identification number. Then he/she must check the box and then click on the continue tab. 

Michigan EIN

Step 5: On the following page you will have to provide the legal information of your LLC including the name of LLC, doing business as, and the address of your Michigan LLC. 

Michigan EIN

 

Michigan EIN

Step 6: Follow the procedure by answering a few questions that are asked related to your Michigan EIN. Once complete answering all you have to click on the continue tab. 

Michigan EIN

Step 7: In the last step you have to provide the purpose of your business. 

Michigan EIN

Step 8: Here, you will be asked whether you want the documents online or through the mail. It is highly recommended to select the online process to get your Michigan EIN. 

Michigan EIN

Why is EIN Important?

No matter what kind of business you are doing, it is important to get your EIN as soon as you complete creating your business. It is most important if you want to hire employees, open a bank account in the name of the business, and perform financial activities. Here are some of the reasons why EIN is important and where you will require to have an EIN. 

  • Most of the banks will require an EIN to open a bank account in the name of the business. 
  • It is required if you want to hire employees for your firm. 
  • It helps your LLC to maintain the corporate veil. 
  • EIN will help to identify the theft.

Does My Business Need an EIN?

There are several guidelines provided by the IRS in order to obtain the Michigan EIN for your business. Below are certain criteria that are provided by the IRS to determine which kind of business will require an EIN. 

  • Does the business have a sole proprietorship with employees?
  • Does the business have a single-member LLC with employees?
  • Does the business is a multi-member LLC?
  • Is the business a Partnership, non-profit, or a corporation?

Sole Proprietorship

If you are doing business as a sole proprietorship and hire employees in it then it is required to have an Employer identification number for your firm. In case you are not hiring employees to work in your firm then there is no requirement for EIN, but if you want to perform any financial tasks then it is necessary to have a Michigan EIN. In case you are filing any tax then it is most important to have an EIN. 

Single/Multi Member LLC

If working as a single-member LLC and do not have any employees working in your LLC then no need to have a Michigan EIN. In case you have employees or paying any tax then you must have a Michigan EIN. If you are using multi-member LLC then it is required to have an EIN as you are having more people and must be paying tax.

Corporation

If you are having S-corporation then it is required to have an EIN and if you are having C-corporation then you will require an employer identification number for tax purposes. If your LLC is referred to as an individual entity then you will require an EIN for tax purposes. 

EIN Confirmation Letter

Once your EIN for Michigan LLC has been issued by the IRS you will receive your Michigan EIN that is also known as an EIN confirmation letter. You will receive your EIN similar to the method you have applied for it. 

Online: If you have applied online then you will have to download a copy of the confirmation letter at the end of the application. You will get a duplicate copy within 4 to 5 days. 

Fax: You will get your confirmation letter back through fax within 4 to 7 days. 

Mail: You will get your confirmation letter through mail within 4 to 8 weeks. 

Here is all about the EIN for Michigan LLC. You must know the steps to file your Michigan LLC and this is just a step for that.