Do I need an Employer Identifcation Number EIN?

[Jackie Badiali]

We formed an LLC for our real estate investment business. We heard you can get discounts as a business but you need an EIN#. Does anyone know the ins/outs of an EIN# and do we need to have employees in order to get one?

[Ashish Acharya]

If you have multi-member LLC, you are taxed as partnership and partnerships' need EIN. Single member LLC is taxed as sole and do not necessarily need EIN. But you should get EIN anyway even if you have single member LLC because you can use EIN rather than your personal SSN on some of the Business and tax forms.

You dont need to have employee to get EIN, but one you have employee, you will need EIN.