As a sole proprietorship with just an EIN would you need to file for a BOIR? Also, if you register for a DBA with the state do you have to file for a BOIR???
Only if you have created an entity, such as an LLC or Corporation, is there a BOIR requirement. There is no requirement for simply having a DBA registered with the state or local government.
I just registered an LLC with my state. I do not have confirmation from the state, nor do I have an EIN yet. When will my 90 days to file a BOIR begin? What is considered the "date of formation?" Thank you
When you receive your confirmation from the state, that is considered your date of formation. You will have 90 days from that date to comply with BOIR.
The trust is not included in the BOI reporting for the corporation/LLC. However, if the trust owns more than 25% of the entity, the trust itself has a BOIR.
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You're very welcome!
Great topic and timely for me. Thanks.
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You're welcome! I'm glad you found it helpful!
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so if i have an EIN # do I still need to file for a BOIR #?
No. Merely having an EIN does not require you to file a BOIR. Only if you have an LLC granted by your state do you have to file.
thank you @@TheTaxGeek
No
As a sole proprietorship with just an EIN would you need to file for a BOIR? Also, if you register for a DBA with the state do you have to file for a BOIR???
Only if you have created an entity, such as an LLC or Corporation, is there a BOIR requirement. There is no requirement for simply having a DBA registered with the state or local government.
I just registered an LLC with my state. I do not have confirmation from the state, nor do I have an EIN yet. When will my 90 days to file a BOIR begin? What is considered the "date of formation?"
Thank you
When you receive your confirmation from the state, that is considered your date of formation. You will have 90 days from that date to comply with BOIR.
@@TheTaxGeek sub :)
If one of the owners is a Trust then what happens ??
The trust is not included in the BOI reporting for the corporation/LLC. However, if the trust owns more than 25% of the entity, the trust itself has a BOIR.
❤