Tax Identification Number - TIN

Categories: Tax, Tech

You've got your Social Security Number. Businesses have their tax identification number.

It works the same basic way as the SSN for individuals. It's a unique number, assigned to a particular business...something that can go on bank accounts and tax records and all the other paperwork that a business needs to fill out. That way, the government doesn't confuse your roadside apple stand with Apple the iPhone maker, and send you a $400 million tax bill.



Find other enlightening terms in Shmoop Finance Genius Bar(f)