To form an S corporation, you must first form a corporation in any state in accordance with the state's corporation laws. This involves choosing a corporate name, drafting articles of incorporation, registering the corporation with the secretary of state of the state of incorporation, preparing corporate
The purpose of an employer identification number (EIN), also known as a taxpayer i.d. number, or TIN, is to allow the IRS to track wages and other payments from your business to the business's employees and owners. An EIN is also helpful in establishing a business bank account that's separate from your personal bank account. Whether you're required to get an EIN for your business depends on how your business is set up.