Startup Terms Glossary
What is an EIN?
An EIN, or Employee Identification Number, is a nine-digit tax number issued to a new startup by the Internal Revenue Service. An EIN functions similarly to a social security number, except it is used for business purposes.
An EIN is needed by any company with employees and is often required for certain business activities such as opening a business account or filing taxes.
EIN Examples
Examples of when a business owner should file for an EIN:
- Example 1. When the business has at least one employee
- Example 2. When the business is a corporation or partnership
- Example 3. When the business is involved with an organization or trust
Learn more about applying for an EIN with this article .
ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.
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I grew up in Beaumont, Texas. I attended Baylor University for college and the The University of Texas School of Law for law school. I gained extensive experience in many areas of transactional law through my former position as corporate counsel at National Western Life Insurance Company and my current position as an Associate at Nance & Simpson, LLP.
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Senior experienced contracts/transactions attorney in the Software Technology space. Also very versed in general corporate legal matters relating to business operations.
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As a lawyer of 27 years, I have a great deal of experience handling many different types of legal projects. Starting with a simple estate plan or the purchase of a personal residence, and moving all the way to complex estate plans and real estate transactions. I regularly advise small business owners and real estate investors.
August 10, 2023
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I am a Berkeley Law 2020 graduate. I have experience working in finance and operations, plaintiff and defense litigation, and have been involved in multiple start-ups.
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