Change of LLC Ownership

"Stuart O. Bronstein" wrote in message news:XnsA7F2495B9D7BFavocatstuyahoofr@130.133.4.11... I have a question - say an LLC is set up as a disregarded entity, so it uses the owner's Social Security number. If someone else buys the LLC, how is the tax ID number dealt with? ========= New owner, new TIN.

New owner, new number.

Thanks. I was concerned there might be an issue with having a new TIN for an LLC that already had one. Apparently not.

Thanks.

In article you write:

It's not quite that simple. I was half owner of a two-member LLC, which had its own TIN. Then I bought the other owner out, so now it's disregarded.

After some research I was surprised to see that the LLC keeps its TIN, and I do not use either my SSN or the EIN I have for other non-LLC proprietorships.

In this case, though, I agree that it needs a new TIN since it obviously can't use the former owner's SSN.

R's, John

My earlier answer, above, was hasty and incomplete. It turns out that the "rules" for identifying numbers for an SMLLC are different, as between income taxes on the one hand, and payroll (and some excise) taxes on the other.

Rather than trying to recreate the answer, I'll recommend that you check out the IRS's posted poop on their website:

Thanks. That's a big help.