Windham, NH · Member since 2017 · 12 posts · 3 votes
We are just starting out and hope to get our first flip property in a month or so. We established an LLC in our state but do I need a federal tax ID if I want to set up a bank account just for the LLC?
Investor · Denver, CO · Member since 2016 · 736 posts · 582 votes
9y
If it's a single member LLC then no, you don't need a separate tax ID. It is nice to have though so you don't have to provide your personal social security number on certain transactions (banks will still require it and you'll still be required to provide your social security number when you provide a W-9 to anyone)