EIN for LLC in Texas

5 Replies

I just formed a single member (me) 100% ownership LLC and is in process of buying commerial real estate (office condos) with rental income purpose under this LLC and also using loan from bank.

By profession, I'm an IT guy and also receive W-2 from my employer. Being sole proprietorship LLC (classified as disregarded entity), i was planning to file my future Tax returns on my Individual SSN tax account using Form -1040 E form.

I don't have any employee and also not planning to hire in future . So, question is does my LLC require to obtain EIN number?

Appreciate your help.

Originally posted by @Anisha Mehta :

I just formed a single member (me) 100% ownership LLC and is in process of buying commerial real estate (office condos) with rental income purpose under this LLC and also using loan from bank.

By profession, I'm an IT guy and also receive W-2 from my employer. Being sole proprietorship LLC (classified as disregarded entity), i was planning to file my future Tax returns on my Individual SSN tax account using Form -1040 E form.

I don't have any employee and also not planning to hire in future . So, question is does my LLC require to obtain EIN number?

Appreciate your help.

No, you dont need one yet. 

But if you want to get business credit or build business credit, I would. 

Easy and free to obtain one. 

@Anisha Mehta

You don't need to, but you should. Whenever you hire a contractor and pay more than $600 for labor, you're required to give him a form 1099, and that form asks for your tax ID. You will use your EIN instead of your SSN, to protect your identity.

Obtaining one via the IRS website is free, easy and instant.

@Anisha Mehta you should also consider that by not using an EIN+DBA you are not taking advantage of the level of privacy an LLC can provide you. Also, it may be easier to pierce the corporate veil if it's just under your name.