How do you do business?

When you set up your Cash App for Business account, you’ll need to identify what kind of business you operate. We’ll verify your identity (if we haven’t done so already) and your business’ identity. Certain businesses will have the ability to provide their Employer Identification Number (EIN) for tax purposes.

Cash App for Business currently supports:

• Sole proprietors–side hustle, self-employed, someone who owns an unincorporated business by themselves.

• Single-member Limited Liability Companies (LLCs)–entities permitted by state statute and created by incorporating with the relevant secretary of state. A single member LLC only has one owner (usually called a member).

• Nonprofit corporations–or similar entities are organizations that incorporate with the relevant secretary of state and may qualify for tax exempt status. Usually exempt organizations are charities for religious, scientific, educational, or other charitable purposes defined by the IRS.

If your business isn’t listed above–international businesses, partnerships, multi-member LLCs, large corporations–your business type isn’t supported by Cash App for Business yet. Square Point of Sale may be a better fit to process your sales and manage your earnings.

Business account features

Since your Cash App for Business account is for selling goods and services, it has different features than a personal Cash App account. This helps keep your business income separate from your personal payments.

These features are supported for all business accounts:

• Sending and receiving payments for goods or services

• Withdrawing your Cash App balance

• Receiving a Form 1099-K if you reach a certain payment threshold

• Adding cash via ACH, paper money deposits, checks, or recurring deposits

You are welcome to create a personal Cash App account to accept payments from friends and family and access additional features.