The short answer is yes. Once you’ve learned the definition of a limited liability company, do you have a list of everything you need to do to be in good standing with the Internal Revenue Service? A limited liability company, for example, needs to do things such as apply for local business licenses, sales & use taxes and must obtain an employer identification number or Tax ID (EIN) number. This is an IRS requirement no matter the specific type of business or industry your LLC is engaged in.
The requirement around the employer identification number for an LLC is important as it is key to doing ordinary business, filing tax returns for the LLC, etc. A Tax ID service professional should be your main point of contact in this regard, helping file the paperwork lay the framework professionally for what you need to do in the LLC Tax ID (EIN) application, how to apply, and what to do with the EIN once you receive it. Work with a Tax ID service professional to get the application rolling early in the life of the LLC.