Got a corporate question, tax related...

[Plantman]

I incorporated a name about two years ago, got a tax id, etc.... but have never conducted any business with it. No bank accounts, nothing.

Can I still use it? My accountant is out of town, so I thought I'd ask all of you fine folks.

Do I need to call the IRS up and say, "hey, I'm going to start using this corporation now"?

Any advise appreciated as always.

[dynalow]

Originally Posted by Plantman

I incorporated a name about two years ago, got a tax id, etc.... but have never conducted any business with it. No bank accounts, nothing.

Can I still use it? My accountant is out of town, so I thought I'd ask all of you fine folks.

Do I need to call the IRS up and say, "hey, I'm going to start using this corporation now"?

Any advise appreciated as always.

Assuming you have kept your FL charter active, you can begin using the corporation any time.

BUT...........

You must obtain a Federal Employer Identification number. If you do not already have one, you can get one online at

http://www.irs.gov/businesses/small/article/0,,id=98350,00.html

Don't forget to discuss a Subchapter S election with your accountant as soon as you can.

[Plantman]

I already had the FEIN, but have never done anything with it.?????????????

[dynalow]

Originally Posted by Plantman

I already had the FEIN, but have never done anything with it.?????????????

You may begin.


Check out the FL Dept. of Revenue to learn what you may need to do to comply with state law.
http://dor.myflorida.com/dor/eservices/apps/register/

[Plantman]

I am fine with the state, I am curious about the IRS, can I just start using that FEIN after almost 2 years?

[dynalow]

Yes. It's still good. They never cancel them.
You may begin using it.

http://www.irs.gov/businesses/small/article/0,,id=177073,00.html

"Once an EIN has been assigned to a business entity, it becomes the permanent Federal taxpayer identification number for that entity. Regardless of whether the EIN is ever used to file Federal tax returns, the EIN is never reused or reassigned to another business entity"