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Re: Does an EIN have to be under the same name as a business license?
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Re: Does an EIN have to be under the same name as a business license?
Hats off to you man! 16 years old and an entrepreneur, and looking to do it legally!
Maybe you should ask a parent to be a partner? You can set up an LLC or LLP. It might also help to have a parent with any kind of business insurance you might want to get as well.
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Re: Does an EIN have to be under the same name as a business license?
Originally Posted by jrs1418
Hats off to you man! 16 years old and an entrepreneur, and looking to do it legally!
Maybe you should ask a parent to be a partner? You can set up an LLC or LLP. It might also help to have a parent with any kind of business insurance you might want to get as well.
So have me, my friend, and my mom as business partners? that's an idea. BTW does it matter what percentage of the business each person owns?
Last edited by Romym; 05-14-2013 at 09:44 AM.
Reason: better wording
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Re: Does an EIN have to be under the same name as a business license?
Im sure it depends on what type of partnership you set up. I dont want to give wrong info so do some google searching, there's plenty of credible info out there.
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Re: Does an EIN have to be under the same name as a business license?
We have an LLC and my wife is listed as the person in charge, or President, if you will. It was recommended by our tax man to set it up that way. Women get better "perks" from businesses, the government and other financial considerations according to the tax man.
That may change from state to state but if you don't have a reputable tax person to speak to, you may want to ask around for one and get their professional opinion on what would be best for your situation. Whether that be an LLC, patrnership, etc.
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Newbie Member
Re: Does an EIN have to be under the same name as a business license?
Percentage wise it makes no difference. But Have your mom listed as CEo , or president/owner. Women owned businesses get great incentives from most governments.
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