Which do I pick for EIN?

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Currently I am needing to figure out which one of these to use for my company Azon Industries, I was told I need a EIN a specific type so it is legally owned by me.

This is my options: http://puu.sh/1thF1
  • Profile picture of the author seasoned
    If you are not settling claims, don't pick the last one.

    FORGET the RIC! You don't know, so YOU DON'T QUALIFY!

    If this isn't for a REIT where you get a management fee, and the trust is for investors to invest in, forget THAT!

    Again, a PSC is unlikely to be the one!

    That leaves the top two which are the most common.

    Basically, an S corporation looks, to the IRS, much like it is you. You can pay on the same return. It is popular for very small businesses and partnerships.

    A C corporation is taxed totally separately, and is what companies like Amazon, IBM, Sears, etc... are.

    BTW please note that I am NOT an accountant or attorney. ALSO, the type C requires the articles of incorporation, according to that site. *I* thought the S type did ALSO. And THOSE are with the STATE! State rules, requirements, taxes, and fees, vary a LOT! In some cases it is practically NOTHING in others it could be thousands. Those taxes are paid to the state and possibly the city. That is SEPARATE from the federal government.

    Steve
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  • Profile picture of the author activeseo
    LLC should make it. by the way..your link is broken
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    • Profile picture of the author seasoned
      Originally Posted by activeseo View Post

      LLC should make it. by the way..your link is broken
      AZON asked for an EIN type, and the link points to a site listing options. It is distinct from an organation type such as corp,llp, or llc. I never had or, on this level, heard about an llc or llp, but corporations are usually S or C.

      Steve
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