hello entrepeneurs, I will be running a gas station convenience store and restaurant starting in Dec. . A little nervous, an on a lease/purchase. I need to change my EIN name as someone in another city in my state shares it. How do I do this?
With regard to the principle of changing the name of a business, many businesses consider changing their name and when they do, they often change the name dramatically.
When changing the name of a business, if there are reasons to consider changing it only sightly, this may be the best option.
If the company seeks financing after the name change, there will be many points in the process that will be a source of confusion, such as tax returns and financial information that have a different name on the older information. If a lender is reviewing your business and has first become familiar with the new name, when they look at the older financial information, they will then see a different business name. If they were not tipped off about this in advance, it will be a source of confusion.
The listing at the Secretary of State will be interrupted. The old business may show up as "dissolved", which will cause confusion. When asked about your time in business, if you give the total time in business, that is, the time in business of your old company plus your new company, when the lender checks the Secretary of State, they may only see the time in business of the new company, if you opened a new corp, which often happens.
Your customers, who are familiar with your company name, now have to remember the new name.
Don't forget you will have to change company literature, business cards, etc.
NicoleD | Former Moderator |
10/14/2010 - 11:24 am
You can apply for an EIN from in several ways - through the IRS's online application, by calling their Business and Specialty Tax Line at (800) 829-4933, or by faxing or mailing Form SS-4 to your appropriate filing office.
joeanderson | Window Shopper |
10/19/2011 - 5:52 am
Show Replied Text…
Business owners and other authorized individuals can submit a name change for their business. The specific action required may vary depending on the type of business.In some situations a name change may require a new Employer Identification Number (EIN) or a final return.
The Internet EIN application is the preferred method for you to apply for and obtain an EIN. Please note, due to high volume applications there is a daily limit. However once you file and your application is completed, the information is validated during the online session, and an EIN is issued immediately. The online application process is available for all entities whose principal business, office or agency, or legal residence (in the case of an individual), is located in the United States or U.S. Territories. The principal officer, general partner, grantor, owner, trustor etc. must have a valid Taxpayer Identification Number (Social Security Number, Employer Identification Number, or Individual Taxpayer Identification Number) in order to use the online application.
Business owners and other authorized individuals can submit a name change for their business. The specific action required may vary depending on the type of business.
In some situations a name change may require a new Employer Identification Number (EIN) or a final return.
wsan12 | Performer | 10/22/2011 - 3:37 pm
NicoleD | Former Moderator | 10/14/2010 - 11:24 am
newhide | Window Shopper | 10/14/2010 - 8:31 am
joeanderson | Window Shopper | 10/19/2011 - 5:52 am
kotq | Performer | 10/20/2010 - 7:44 am
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