How Long Will It Take To Receive My Tax ID Number Once I Move?

tax ID number information

After starting your new business venture, you may decide to expand into new territories and markets. However, if you are planning on operating in a different state, then you have to make sure that you go through the proper channels to ensure that everything stays legal and valid. One thing you need to figure out is whether your LLC Tax ID number will still work across state lines. Although we suggest talking with a lawyer first, we will briefly go over your options.

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What Kind of Enterprise Do You Have?

As a business, you have to determine which kind of entity you are going to operate as; a sole proprietorship, partnership, an LLC, or a corporation. Each entity has different ways of moving into a new state, so it’s imperative that you understand the differences.

Typically speaking, a sole proprietorship is easy to move because it is tied to you personally and doesn’t include any employees. In this case, all you have to do is discontinue your company in the old state and start up in the new one.

LLC or Corporation

With these kinds of enterprises, you have several different options available to you, which is why we suggest consulting with a lawyer to determine which one is best for your company.

  • First, you can continue to keep your business in your old state and operate as a “foreign operation” in any new state. This is ideal if you want to work across state lines.
  • Second, you can dissolve your LLC or corporation in the old state and reform in the new state. Your Tax ID should still be valid, but again you will have to transfer the address attached to it.
  • Finally, you can form a new company in another state and then merge the two after the fact.
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If you choose to go the final route, then you will be applying for a Federal Tax ID for the new company before merging it with your old one. Otherwise, your original ID number should be valid regardless.

Overall, it shouldn’t take more than a day to process these changes, and you can do everything online.

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