Changing FEIN

[RandyH]

Going from a sole proprieter to an LLC.
Changing the Company name is no problem.
However when I change the Fed ID # what will that do to my tax related items. ie.. W2's,,940 annual report 941 etc.....

Randy

[Deidre56]

you should set up a separate company file in Quickbooks for the LLC. A separate tax return will be done for each at year end and you will need two separate sets of books. these are 2 separate entities now, keep them separate.

[Joey]

If it's a Single Member LLC, then it's not recognized at all for taxes and files the same return that you always did on the Schedule C. The only reason you even need to use the FEI# is for any payroll that you may have.
The exception to this is if you have filed an election to be taxed as an S corporation, in which case you will need to file a separate tax return for the business. Or, if it's a multiple member LLC and files a Partnership tax return.