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Paperwork when a business is sold

Answered by: 

Question: 
If the business is sold can the new company keep the account and TIN?
Answer: 

Usually this depends on type of business. If it is a corporation, the answer is yes. If it is a sole proprietor the answer is no. The SSN/EIN of the sole proprietor belongs to the person and not to the entity.
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Learn more about Deborah Crawford’s webinar Business Accounts—Beyond the Basics

First published on 06/23/2019

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