How to Get a Tax ID (EIN) in Preston CT

Obtaining a Tax ID Number (EIN)

When starting a business in Preston CT, 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.

Connecticut State Tax ID

Outside of obtaining your Federal Tax ID (EIN) in Preston CT you will also likely need a Connecticut 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 Connecticut State Website at http://www.ct.gov/drs/cwp/view.asp?a=1509&q=266240

Cities in Connecticut

• Griswold, CT
• Hopeville, CT
• Jewett City, CT
• Lisbon, CT
• Versailles, CT
• Taftville, CT
• Glasgo, CT
• Voluntown, CT
• Hanover, CT
• Norwich, CT
• Norwichtown, CT
• Occum, CT
• Poquetanuck, CT
• Baltic, CT
• Sprague, CT
• Plainfield, CT
• Mashantucket, CT
• Ledyard, CT
• South Canterbury, CT
• Canterbury, CT
• N Stonington, CT
• North Stonington, CT
• Yantic, CT
• Oneco, CT
• Rockville, RI
• Moosup, CT
• N Franklin, CT
• North Franklin, CT
• Franklin, CT
• Franklin Hill, CT
• Central Village, CT
• Central Vlg, CT
• Gales Ferry, CT
• Scotland, CT
• Hopkinton, RI
• West Wauregan, CT
• Wauregan, CT
• Sterling, CT
• North Sterling, CT
• Bozrah, CT
• Fitchville, CT
• Uncasville, CT
• Windham, CT
• Gilman, CT
• Hope Valley, RI
• Old Mystic, CT
• South Windham, CT
• Montville, CT