A company must have an EIN before hiring employees.

Entrepreneurship

A way of thinking, acting, and being that combines the ability to find or create new opportunities with the courage to act on them.

Knowledge of the legal requirement for a company to have an EIN before hiring employees
Awareness of the process and steps involved in obtaining an EIN
Understanding the importance of obtaining an EIN (Employer Identification Number) for a company

Verified Answer

Final Answer :

True

Explanation :

It is required by the IRS for companies to have an EIN (Employee Identification Number) before hiring employees.

Learning Objectives

Knowledge of the legal requirement for a company to have an EIN before hiring employees
Awareness of the process and steps involved in obtaining an EIN
Understanding the importance of obtaining an EIN (Employer Identification Number) for a company