Partnership LLC becomes single member LLC, can you keep the same EIN.

Forum|Forum|6 years ago
December 6, 2019
1 reply
83 views

A partner leaves a Partnership LLC, so it becomes a single member LLC. Can the single member LLC use the same EIN used for the partnership LLC. The EIN has been used the entire year for payroll, while it was a single member LLC.

Lacerte Tax

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Best answer by TaxGuyBill

Yes, you can keep the same EIN:

You will not be required to obtain a new EIN if the following statements are true:

A corporation files papers with the state to convert to an LLC and will elect via Form 8832 to be taxed as a corporation.
The number of members in the LLC changes from more than one member to a single member.
The number of members in the LLC changes from a single member to more than one member.
A sole proprietor files papers to become a state recognized entity, organizes as an LLC, and will file Form 8832 or Form 2553 to elect to be treated as a disregarded entity or taxed as a corporation or small business corporation.

https://sa.www4.irs.gov/modiein/individual/help/help-toc.jsp

T

TaxGuyBillAnswer

Level 15

Yes, you can keep the same EIN:

You will not be required to obtain a new EIN if the following statements are true:

A corporation files papers with the state to convert to an LLC and will elect via Form 8832 to be taxed as a corporation.
The number of members in the LLC changes from more than one member to a single member.
The number of members in the LLC changes from a single member to more than one member.
A sole proprietor files papers to become a state recognized entity, organizes as an LLC, and will file Form 8832 or Form 2553 to elect to be treated as a disregarded entity or taxed as a corporation or small business corporation.

https://sa.www4.irs.gov/modiein/individual/help/help-toc.jsp

C

codeblue123Author

Level 3

Would marking the partnership as final cause any problems with continuing the LLC as a single member on their sch C?

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