Getting a Tax Identification Number

 

You're familiar with paying personal taxes. As a small business owner, you'll need to pay business taxes as well. All businesses are required to pay federal, state, and in some cases, local taxes. Most businesses will need to register with the U.S. Internal Revenue Service (IRS) and state and local revenue agencies in order to receive a tax ID number or permit.
The following resources will help determine your tax registration requirements.

Employer Identification Number (EIN)

What is an EIN?

An EIN is also known as a federal tax identification number, and is used to identify a business entity. Employers with employees, business partnerships, and corporations and other types of organizations, must obtain an EIN from the IRS. The EIN is also known as an Employer Tax ID and Form SS-4.
The resources below will help you get more information about getting an EIN for your new business.

• Guide to the Employer Identification Number
• Apply for an EIN Online

Do you want to see another Business’ EIN?

There are several ways to try to locate another business’ EIN.

• If a company is public it may put its EIN on the first page of its 10-Ks, 20-Fs and other U.S. Security Exchange Commission (SEC) filings. You can locate these documents for free through the SEC's Electronic Data Gathering, Analysis, and Retrieval (EDGAR) database.
• Nonprofits often include the EIN on Form 990. GuideStar maintains a free, searchable database of these documents.
• Private companies sometimes list EINs on company websites. You can also search fee-based resources such as Westlaw (BUS-TRACK and/or FEIN-ALL) or Lexis (D&B/FEIN).

What if you misplace your EIN?

There are ways to retrieve your company's EIN if you lose the number.

• First, look for your confirmation notice issued by the IRS after you applied for your EIN.
• Ask the IRS to search for your EIN by contacting the Business & Specialty Tax Line. You will need to provide identifying information to verify that you are authorized to receive the EIN.

Contact the IRS by phone at 1-800-829-4933.

State Tax Registration

Just as you must have a federal tax identification number, you will also need to obtain Tax IDs and permits from your state's revenue agency. Businesses that operate within the state are required to register for one or more tax-specific identification numbers, licenses or permits, including income tax withholding, sales and use tax (seller's permit), and unemployment insurance tax.
If you plan to sell products and you are required to collect sales taxes, you will likely need to obtain a Sales Tax Permit or Vendor's License from your state or local government (or both).
The State and Local Tax page is a good place to learn more about your state and local tax registration requirements.
Source: sba.com

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