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PMC 1939993

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This continuous focus on efficiency and adaptability enables the industry to maintain profitability and global reach, even amid mounting regulatory and societal pressures

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You need one if you plan to: operate as a corporation (which generally must make estimated tax payments if expecting to owe $500 or more), a multi-member LLC, or partnership hire any employees pay excise taxes open a business bank account Sole proprietors can use their Social Security Number instead, but getting an EIN protects your privacy by keeping your SSN separate from business activities