If you recently started or plan to start a business in San Gabriel CA or have another taxable entity one of the first things you will want to do is obtain your Tax ID in San Gabriel CA.
Obtaining a Tax ID Number (EIN)
When starting a business in San Gabriel CA, 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.
California State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in San Gabriel CA you will also likely need a California 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 California State Website at http://www.sos.ca.gov/business-programs/business-entities/tax-information/
Cities in California
- San Marino, CA
- Temple City, CA
- So Cal Edison Co, CA
- Alhambra, CA
- Pasadena, CA
- Mellon Regional Lockbox Netw, CA
- Ambassador I C Foundation, CA
- Avon Products, CA
- Fuller Theological Seminary, CA
- Cal Tech, CA
- J P Morgan, CA
- Ralph M Parsons Co, CA
- Tournament Of Roses Assoc, CA
- Kaiser Foundation Health, CA
- South Pasadena, CA
- S Pasadena, CA
- Arcadia, CA
- El Monte, CA
- Rosemead, CA
- City National Bank, CA
- Mont Park, CA
- Mont Pk, CA
- Monterey Pk, CA
- Southern California Gas Co, CA
- Ambassador College, CA
- Sierra Madre, CA
- Wells Fargo Bank, CA
- Monterey Park, CA
- S El Monte, CA
- South El Monte, CA
- Highland Park, CA
- Altadena, CA
- Eagle Rock, CA
- East Los Angeles, CA
- Est Ls Angls, CA
- Commerce, CA
- Shared Firm Zip Code, CA
- Monrovia, CA
- Baldwin Park, CA
- Hazard, CA
- Bassett, CA
- Montebello, CA
- Duarte, CA
- Bradbury, CA
- Lincoln Heights, CA
- Lincoln Hts, CA
- Mount Wilson, CA
- Glassell, CA