EIN (Employer Identification Number)
A unique nine-digit tax identification number issued by the IRS to identify a business entity in the United States.
An EIN is essential for any US business, including those owned by non-US residents. It is required to open a US business bank account, hire employees, file tax returns, and apply for business licenses. It functions similarly to a Social Security Number (SSN) but for businesses.
Related terms
Franchise Tax
A tax charged by some US states for the privilege of doing business or incorporating there.
Entity typesRegistered Agent
A designated individual or entity authorized to receive legal and official tax documents on behalf of a business.
Entity typesVirtual Office
A service that provides a business with a physical address and office-related services without the overhead of a long-term lease and administrative staff.