If you recently opened a new business and received a letter in the mail about obtaining your Certificate of Existence, Labor Law Poster, and EIN, please proceed below.
About your EIN
- An EIN (Employer Identification Number) is a nine-digit number issued by the IRS to identify businesses and certain other entities. It is also called a Federal Tax ID.
- It is commonly used for tax and banking purposes and to register your business with the federal government.
- You will need an EIN to hire employees, open a business bank account, file taxes, and apply for business loans or lines of credit.
- All businesses are required to have an EIN.
About your Certificate of Existence
- It certifies that your Montana business is in existence, is authorized to transact business in the state, and complies with all state requirements.
- It may be required for loans, to renew business licenses, to open a business bank account, or for tax or other business purposes.
- It provides official evidence of an entity’s existence, status, legal name, and formation.
- It bears the official seal of the Montana Secretary of State.
About your Labor Law Poster
- Federal law (29 U.S.C. §§ 666(i) and 2005) states that an up-to-date compliant Labor Law Poster must be posted in a visible location on the property of a business that has at least one employee.
- Penalties for non-compliance with posting federally required regulations may lead to fines in excess of $7,000 per instance and may also lead to lawsuits.