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Federal Employer Identification Number (FEIN)

Federal Employer Identification Number (FEIN) Definition

This 9 digit code is used by businesses in order to classify and identify them as a tax payer, for banking services and other official and legal purposes. Businesses with no employees, single member LLC's and sole proprietorship's may use the Social Security number for tax reporting.  However, companies with employees must have a FEIN or Federal Employer Identification Number to use for taxes.

For each business that is owned by the same person, a different FEIN number is required to represent the business. A FEIN is unique to a business just like Social Security number is unique to an individual.


Additional meaning of Federal Employer Identification Number (FEIN):

Federal Employer Identification Number or (FEIN)) is the corporate equivalent to a Social Security Number, although it can be issued to anyone, including individuals, who have to pay withholding taxes on employees. FEIN or Federal Employer Identification Number is also known as Federal Tax Identification Number.

 


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