According to the IRS, partnerships are required to obtain a new EIN when (1) they incorporate; (2) one of the partners takes over the entity and then operates as a sole proprietorship; or (3) one partnership ends and another one begins. Partnerships are not required to obtain a new EIN in the case of (1) bankruptcy; (2) partnership name changes; (3) changing or adding locations to the partnerships; (4) the termination of a partnership under IRC section 708(b)(1)(B); or (5) within a 12 month period 50% or more of the ownership changes hands.
WHAT IS THE EIN?
Also known as the Tax Identification Number (TIN), Federal Employer Identification Number (FEIN) or the Federal Tax Identification Number, the EIN is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to business entities operating in the United States for the purposes of identification. When the number is used for identification rather than employment tax reporting, it is usually referred to as a TIN, and when used for the purposes of reporting employment taxes, it is usually referred to as an EIN. This website uses the latter term throughout.
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