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When should a web startup get an EIN?

Whenever you decide to file your company as a corporation, LLC, S-Corp, etc., you should get an EIN. From a practical perspective, you will need an EIN to grow your business. There are varying laws regarding the requirements for EIN’s. Typically, states will require EIN’s for business practices such as entering into contracts, or participating in certain industries or markets.
Also, your business will want to establish company accounts, or buy property in the company name, and typically EIN’s will be necessary. Realistically, it is a quite simple process and you should try to do it as soon as practicable. Here is the link to the IRS website to file electronically: Employer ID Numbers (EINs).

Despite filing for an EIN being a simple process you can complete on your own, you should also consider getting a lawyer in the near future. As you try to grow your company, you will inevitably run into certain issues that will require some more sophisticated legal knowledge. Take it from me; I have founded two startups and I cannot tell you how vital a role my lawyer plays in the business.

Generally, startups will need help drafting contracts, securing investors, establishing a legal entity, etc. So having a lawyer to help you in the early stages as your company transitions can be very useful.

If you need a hand finding a good startup lawyer, take a look at our site; LawTrades. You can find lawyers in your area who are well-versed in these types of business dealings and average more than 10 years in experience. On our site, you can connect with lawyers 24/7, so you can resolve your legal matters at your convenience.

I hope this answer is helpful. If there is anything I can do to help you out personally, please don’t hesitate to reach out! Good luck with your business!

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