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for business links and information try www.zookfind.com and www.iwant2search.com
Keeping old EIN & State's ID numbers, Welcome
First of all NEVER assume. After that everybody in business should have
an Accountant, a Lawyer and an Insurance Agent.
Now is the time to ask the professionals. We do have a few on this website
Good luck, LUCKIEST
It's important to know whether the business you are buying is a corporation now, and if so, whether you are buying just its assets, or if you are buying all of its shares of stock (there's a huge difference . . . if you're buying the stock, you will assume all of the business' liabilities, known and unknown).
If the business is a Louisiana corporation now, if you are buying the stock, and if you are not changing that structure nor seeking a new charter from the Secretary of State, then you assume correctly -- you don't need a new EIN. However, it is more common for a new one-person owner to buy out the assets of a closely held business like this, in which case you'd apply for a new charter with the Secreatry of State, and would therefore need a new EIN.
If the business is currently some other structure (sole proprietorship, partnership, LLC), then you'd be buying the assets only and would need to register the business, apply for a new EIN, etc. just as if you were starting the business from scratch. In either case, if you plan to operate under the current business name, be sure that the name (and completing whatever forms or filings are necessary to transfer it to you) are part of the deal.
Hope that helps. Best wishes.
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I am buying the business I work for in Louisiana.....a boat repair and sales type.....it seems that on form SS4 for the EIN number that I can keep the old one if I acquired the business by buying it's stock ? I assume that since I am buying out the 2 shareholders that it's the same as buying it's stock ? Also, when it comes to incorporating in Louisiana.....I will keep the existing corp. name which should let me keep the existing state ID number as well ?
Thanks in advance,
Thanks in advance,