Payment Processing: The Real Reason You Need an EIN
International payment processing is expensive and complicated. With a US LLC and EIN, you access domestic US rates and faster payouts.
- Stripe US: 2.9% + $0.30 per transaction (vs 3.9%+ for international)
- PayPal US: Better rates and no cross-border fees for US customers
- Instant payouts available (vs 3-7 day international transfers)
- No currency conversion fees when selling in USD
- Easier dispute resolution and account stability
Setting Up Stripe with Your EIN
Stripe is the gold standard for e-commerce payments. Here's exactly how to set it up:
- Create Stripe account with US as your country
- Enter your LLC name and EIN during business verification
- Add your US bank account (Mercury, Relay, or Wise)
- Verification typically completes in 1-2 business days
- You can start accepting payments immediately with a small reserve
Sales Tax: What You Actually Need to Know
If you sell physical products to US customers, you may need to collect sales tax. This sounds scary but it's manageable.
- You only collect tax in states where you have 'nexus' (presence or significant sales)
- Most states have thresholds: $100K in sales OR 200 transactions before you must collect
- Digital products have different rules (many states don't tax them)
- Services are generally not taxed
- Tools like TaxJar ($19/mo) or Avalara automate everything
Platform Integrations
With a US LLC and EIN, you unlock full functionality on major platforms:
- Shopify Payments: Lower fees than third-party processors, instant payouts
- Shopify Capital: Business loans based on your sales history
- US-only apps and integrations become available
- Better shipping rates through USPS Commercial Pricing