An Employer Identification Number (EIN) is a unique number that is assigned to businesses. To make things easier to understand, think of it as the business equivalent of the SSN. It’s needed for your business to file tax returns, but it also helps separate your personal assets from those of your business. Filing for your EIN is usually the first thing you will do after forming your LLC.
Before You Get Your EIN
Please keep in mind that you’ll have to fill out the form for the EIN in one sitting, as it can’t be returned to once it’s started and closed. Also, the form will be closed after 15 minutes of inactivity, so be sure to keep an eye on that too. We are happy to help you obtain your EIN regardless of whether we form your LLC or we just act as your registered agent. Obtaining a New Mexico LLC EIN is the same process in as obtaining an EIN for an LLC in any other state.
IRS Website Step-by-Step
1. Keep this in mind: Be sure that the person applying
online already has a Taxpayer Identification Number, like an
SSN, ITIN or EIN; and make sure that the business you’re
registering is located in the US or its territories.
2. Go to the
IRS Website here.
3. Hover your pointer over the FILE tab on the menu, and go
to the Popular section, where the “Employer Identification
Number (EIN) option should be. Click on that.
4. Even though we’ve covered many of the points
in this article, please read the recommendations the IRS
mentions before trying to fill the form, to avoid any issues
down the line.
5. Once that’s done, click on the
“Apply Online Now” button below the three recommendations by
the IRS. You will get a warning saying that the IRS can
track and monitor your activity while you fill out the form,
keep that in mind.
6. You will arrive to the
first page, where you will get more warnings and
recommendations about filling out, it all boils down to
completing the form in one sitting.
7. After
this screen, you will be asked to define the structure of
the business that you’re applying the EIN for. Pick the
option that fits your business.
8. You will get
a confirmation screen detailing the structure of the
business you chose. If you are sure of this, go ahead and
click to continue.
9. After this, you’ll be
asked to fill in some details about your company.
Specifically, how many employees it has and which state it’s
located in.
10. Again comes a confirmation
screen, where the classification of your business is shown.
If you are ok with the classification, go ahead and click
Continue.
11. You’ll be asked to detail the
reason for which you’re applying for an EIN. You should pick
the option that fits your needs, but most people state they
apply for banking purposes or to start a new business.
12. Now comes the part where you pick the
responsible party for your business. You can either pick an
existing business (with an already valid EIN) or an
individual with a valid SSN. Note, the IRS keeps this
information
private.
13. If you pick an individual, you will be asked
to fill in some information about yourself. Your first,
middle, and last name will be required, as well as your SSN
or ITIN. You will also have to indicate if you’re one of the
owners or a third party that’s representing them.
14. Once that’s done, fill out the information
about your business, including the legal name, trade name,
county and state where it’s located. Make sure everything
you’ve written out ha no typos and the information is
correct.
15. You will then be asked for even
more information through some yes and no questions, which
you will have to answer honestly.
16. State then
the category that best fits your business, such as finance
or real estate.
17. After this, you will be
asked for a little more detail, choosing from a more
specific list within the category you picked.
18. Finally, you will be asked how you want to
receive the confirmation letter for the EIN. You can choose
to receive it online, or receive it by regular mail.
19. That’s it! After one last confirmation, you
will have successfully applied for an EIN.
You Have Your Employer ID
Congratulations! You’ve successfully filled out the form to apply online for an EIN. Your business is on its way to opening a bank account and hiring employees. If you elected to have the letter mailed, and you have our virtual office or mail forwarding, then we will upload the EIN when we receive it. Learn more about incorporating in New Mexico here.
