Rgarding tin no.
This query is : Resolved
Mahesh Bhadrannavar
(Querist)
17 October 2013
is TIN no remains same if one company merge with other company?
17 October 2013
In most cases, your Tax Identification Number will remain the same throughout the duration of your business. You will only need to obtain a new identification number under special circumstances.
If you own multiple corporations or LLCs, then you will need a different Tax ID for each entity. Also, if your company has subsidiaries, each subsidiary should have its own Tax ID. However, this is not the case for sole-proprietorships or general partnerships, only “incorporated” entities that you file with the state.
Keep in mind that you will not be required to file for a new tax identification number if:
You change the name of your business.
You change the location of your business.
The corporation or LLC declares bankruptcy.
Your LLC is legally terminated under IRC section 708(b)(1)(B) and a new one is automatically formed.
You are operating as a corporation and choose to be taxed as an s-corporation.
You operate under a sole-proprietorship and you file for personal bankruptcy, form a corporation or LLC or take on a partner (and thus become a partnership).
Your partnership (or LLC) is taken over by one of the partners and, since it is run by only one person, is therefore considered by the IRS to be a sole-proprietorship, or disregarded.
You purchase or inherit an existing business which you plan to operate as a sole-proprietorship.
Your corporation or partnership receives a new charter from the Secretary of State (you’ve created a new entity).
A corporation receives a new charter from the Secretary of State.
You are a subsidiary of an incorporated entity.
You change entity types, or become a sole-proprietorship or general partnership.
If you own multiple corporations or LLCs, then you will need a different Tax ID for each entity. Also, if your company has subsidiaries, each subsidiary should have its own Tax ID. However, this is not the case for sole-proprietorships or general partnerships, only “incorporated” entities that you file with the state.
Keep in mind that you will not be required to file for a new tax identification number if:
You change the name of your business.
You change the location of your business.
The corporation or LLC declares bankruptcy.
Your LLC is legally terminated under IRC section 708(b)(1)(B) and a new one is automatically formed.
You are operating as a corporation and choose to be taxed as an s-corporation.
You operate under a sole-proprietorship and you file for personal bankruptcy, form a corporation or LLC or take on a partner (and thus become a partnership).
Your partnership (or LLC) is taken over by one of the partners and, since it is run by only one person, is therefore considered by the IRS to be a sole-proprietorship, or disregarded.
You purchase or inherit an existing business which you plan to operate as a sole-proprietorship.
Your corporation or partnership receives a new charter from the Secretary of State (you’ve created a new entity).
A corporation receives a new charter from the Secretary of State.
You are a subsidiary of an incorporated entity.
You change entity types, or become a sole-proprietorship or general partnership.
RENGARAJ R.K
(Expert)
18 October 2013
TIN number remains the same after merger. E.g "A" company is merging with "B" company and here you have to surrender RC/TIn of "A" company and inform the VAT circle about the merger. Only one TIN number will be applicable (i.e with of the parent company)after merger.
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