About Lesson
Entity Verification
As previously mention in past trainings, just like you have a Social Security Number, your business has an EIN. Your Tax ID number is used to open your bank account and to build your business credit profile. If you have an EIN, you may still need a new one if:
• Your business is subject to a bankruptcy proceeding.
• You form a new corporation or change the corporate name.
• You take in new partners and operate as a partnership.
• You purchase, or inherit, and plan to operate an existing business
Your entity type is very important…
Please make sure you are set up as a Corporation or LLC. If you have a DBA or are going to use a DBA make sure it is registered with the State.
Generally, most banks require a copy of your business certificate from the secretary of state, an IRS document with your EIN number on it, and sometimes the articles of incorporation are required when establishing your businesses bank account. Keep these documents in a handy but safe place, like your Corporate Binder.
Step two is going to walk you through the process of establishing your listings with the Directories.