Does a Partnership Need a Tax ID (EIN)?

16 Apr 2020

When you are forming a partnership, it is two or more individuals coming together to create an organization with a business purpose. When you come together to form a partnership, you are creating your very own company. That partnership is going to need to obtain a partnership tax return, open a bank account in the name of the company, perhaps take out loans, and overall do business as that partnership organization. To do all of this, one of the key pieces of information you will need is that of an employer identification number or Tax ID (EIN) number.

You have a variety of options when it comes to obtaining your Partnership’s Tax ID (EIN) number. One of the ways you can obtain this number is by working with a Tax ID service provider. He or she will be able to walk you through the various application processes, with the online application being the quickest and easiest option across the board. Once you go through the application process, you will then have your Tax ID (EIN) number to comply with the Internal Revenue Service.