Does the name assigned to my IRS EIN number have the match name on my business license?
Hello, there is a slight discrepancy in names. My IRS EIN doc states (Business Name) SCORP LLC and my business license states (Business Name) LLC. I'm having a tough time with my bank opening a business account because the IRS doc differs slightly from the business license. What should I do?
There's a lot of questions and avenues where attorneys can't give the right answer. In short, yes. If you're applying for a local (county) license, typically they'll ask for the name of your LLC and it's associated EIN #. In order to make sure you're compliant, you'll want continuity across state and federal lines to make sure all of your documentation is correct and you have any/all proper licenses.
With any business no matter the size, my recommendation is to always consult with an attorney from the foundation. You can save a lot of time and stress by having an attorney in your corner, making sure you're doing everything right.
Best.
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It depends what you mean by "business license." If you mean the Articles of Organization that were filed to form the LLC, that is its legal name and you should change the name with the IRS (likely just by changing it on its next tax return, unless the LLC was just formed and its filing liability has yet to be determined). If, however, the business license is separate and apart from its Articles of Organization and the EIN name corresponds to its actual name as set forth in the Articles, then it would be simpler to change the name on the business license. By the way, including "SCORP LLC" in the company's name seems destined to cause confusion (even though an LLC may make an S Corp election).
The foregoing discussion does not establish an attorney-client relationship, is qualified by the limited facts presented above, and should not be relied upon as legal advice. To obtain definitive legal advice upon which one can rely necessitates retaining an attorney who is qualified in this particular area of the law.
