What is a "Disregarded Entity"
When a company is sold the new company can't use their TIN because tax liability won't be appropriately assigned. They may have contracts or other business with vendors they want to keep, so they use the old TIN as a disregarded entity to try and preserve that business. The Vendor group does not honor disregarded entities.
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What if a vendor on contract merges with a new company or is bought out?
1. CHECK CAREFULLY: Be aware that scammers do reach out to public entities to change vendor information in order to move money into their pockets. Any information about a vendor's address, banking, name, or taxpayer Identification TIN changes must be ...
Create a Vendor or Customer
Background Whenever the state establishes a relationship with a new vendor or customer, the new vendor or customer needs to be added to the Vendor/Customer Database (VCUST). To add a vendor or customer to the database a VCC (Vendor Customer Create) ...
What if a vendor on contract reaches out to us with an address, banking, name, or taxpayer Identification TIN change?
1. CHECK CAREFULLY: Be aware that scammers do reach out to public entities to change vendor information in order to move money into their pockets. Any information about a vendor's address, banking, name, or taxpayer Identification TIN changes must be ...