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Paperwork when a business is sold

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

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.
Learn more about Deborah Crawford’s webinar Business Accounts—Beyond the Basics

First published on 06/23/2019

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