To open an online store, do I need to apply for a tax ID number or can I use my social security number?

I want to open a online store. My plans are to sell party favors, invites, etc.
This story first appeared in the October 2012 issue of Startups. To receive the magazine, click here to subscribe.

As a general rule, if your business is an entity other than a sole proprietorship (e.g., corporation, limited liability company, partnership), you will need a separate tax ID number for the entity.  If you are a sole proprietor, you may use your social security number.  Confim with a knowledgeable tax lawyer or CPA to determine what's right for your business.

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