If you recently started or plan to start a business in Williams AZ or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Williams AZ.
Obtaining a Tax ID Number (EIN)
When starting a business in Williams AZ, serving as the administrator or executor of an estate, creator of a Trust or operating a Non Profit Organization obtaining a Tax ID (EIN) is a key responsibility. A Tax ID also known as an Employer ID Number (EIN) is a unique nine digit number that identifies your business or entity with the IRS for tax purposes, essentially like a Social Security Number for the entity. A Tax ID (EIN) is used for opening a business bank account, filing business tax returns and in many cases is required when applying for business licenses. In most cases it is helpful to apply for a Tax ID (EIN) as soon as your start planning a business to ensure that there are no delays in obtaining the correct licenses, financing and opening a business bank account that would be needed to operate.
Information to Consider Prior to Applying
Before applying for your Tax ID (EIN) you may want to consider a few things before starting the application including:
- Determine which structure your business or organization will operate as
- Determine the individual or organization that will serve as the responsible party
- Determine the physical address the business/entity will use – A physical address is required for all Tax ID (EIN)’s and a separate mailing address can be specified
Definition of Entities
- Sole Proprietor – An individual who owns a company that is not incorporated or registered with the state as a limited liability company (LLC).
- Limited Liability Company (LLC) – A LLC is a structure formed by filing articles of organization which allows members limited liability protection and pass through taxation.
- Corporation – A person or group of people who establish a legal entity by filing articles of incorporation with the state’s secretary of state.
- Estate of Deceased – An estate (or decedent estate) or succession is a legal entity created as a result of a person’s death.
- Trusts – All types of trusts including conservatorships, custodianships, guardianships, irrevocable trusts, revocable trusts, and receiverships.
- Partnership – An unincorporated organization in which two or more individuals share the profits and liabilities of a business venture.
- Church – For tax purposes, a “church” refers to any organization claiming to be a church including temples, mosques, and other houses of worship.
- Non-Profit Organization – Includes public charities, educational organizations, PTA/PTO Organizations, Community Sports Teams, Homeowners/Condo Associates, etc.
Arizona State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Williams AZ you will also likely need a Arizona State Tax ID. This ID is needed to pay business taxes, state income tax and/or sales tax on items you sell. Generally the State Tax ID is used for the follow:
- Sales and Use Tax
- Employee Income Tax Witholding
- Sales Tax Exemption Permits
- Excise Taxes for items like Alcohol, Tobacco, Firearms, Oil & Gas, heavy machinery, etc.
For specific detail refer to the Arizona State Website at https://www.azdor.gov/Business.aspx
Cities in Arizona
- Ash Fork, AZ
- Grand Canyon, AZ
- Grand Canyon National Park, AZ
- Tusayan, AZ
- Havasupai Indian Reservation, AZ
- Supai, AZ
- Seligman, AZ
- Parks, AZ
- Parks Comm Po, AZ
- Paulden, AZ
- Bellemont, AZ
- Northern Arizona University, AZ
- Flagstaff, AZ
- Grand Canyon Caverns, AZ
- Peach Springs, AZ
- Shipley, AZ
- Truxton, AZ
- Chino Valley, AZ
- Nau, AZ
- Clarkdale, AZ
- North Rim, AZ
- Cameron, AZ
- Gray Mountain, AZ
- Fredonia, AZ
- Moccasin, AZ
- Cane Beds, AZ
- Pipe Spring National Monumen, AZ
- Jacob Lake, AZ
- Kaibab, AZ
- Kaibab Indian Reservation, AZ
- Hackberry, AZ
- Rare Metals, AZ
- Moenave, AZ
- Moenkopi, AZ
- Tuba City, AZ
- Coal Mine Mesa, AZ
- Iron Springs, AZ
- Jerome, AZ
- Cedar Ridge, AZ
- Prescott, AZ
- Munds Park, AZ
- Cornville, AZ
- Prescott Valley, AZ
- Prescott Vly, AZ
- Colorado City, AZ
- Skull Valley, AZ
- Cottonwood, AZ
- Bagdad, AZ