If I’m starting an online wireless business, what type of tax ID is required?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I’m starting an online wireless business, what type of tax ID is required?
Can I form an LLC for a new online business? Should I form the LLC before the business has even started, before I have a tax id? I need a tax ID to get started so which one should I have and how do I obtain one?
Asked on September 5, 2015 under Business Law, New Jersey
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
Yes, you not only can but should form the LLC before starting the business, since anything you do before having the LLC will not be subject to the liability protection of having an LLC. If you form an LLC, you will get a tax ID a/k/a employer ID number which you can use for all relevant purposes e.g. taxes. Go the website for the NJ Department of State, also called the "New Jersey Business Portal," I believe, and you can set up the LLC online in about 25 - 50 minutes of your time for a cost of approximately $500, possibly less. Doing so will, as touched on above, then give you considerable protection from business related debts or obligations.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.