Can the current owner of a business transfer her tax ID number to me if I am keeping the same name of the business?

min read
Opinions expressed by Entrepreneur contributors are their own.
The answer to your question depends on exactly what you are intending to do. As a general rule, a Tax ID or Employer Identification Number (EIN) cannot be transferred when there has been a change of business structure or ownership. If the business merely changes its name or moves to a new location, it may retain the EIN but must notify the taxing authorities of the name change. If you are starting a new business and merely using the same name as was previously used by the other business, you will require a new EIN. The IRS website (www.irs.gov) provides a good explanation of when a new EIN is required.

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Are you paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.

Latest on Entrepreneur