LLC and tax id number

[KingNY]

What is the name of your state?What is the name of your state? Kentucky

I just obtained a new LLC. A woman at the bank said besides them not being able to start a new checking account without having a tax id number, (not my social security number) she said that a tax id number offered more protection. I thought that is what the LLC did. Is she full of crap or what?

 

[Aurorien]

Starting an LLC protects you in a different way than having an EIN or TIN. EIN/TIN generally prevents your social security number to be disclosed to the wrong people.

 

[Fat Tony]

In Laymans terms, and I know Im going to hear it for this one, a Tax ID# is basically a social security number for your LLC. This is how monies earned are tracked and how taxes are collected. No big difference.