If you recently started or plan to start a business in Miami Gardens FL or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Miami Gardens FL.
Obtaining a Tax ID Number (EIN)
When starting a business in Miami Gardens FL, 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.
Florida State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Miami Gardens FL you will also likely need a Florida 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 Florida State Website at http://floridarevenue.com/dor/taxes/sales_tax.html
Cities in Florida
- Hialeah Lakes, FL
- Miami Lakes, FL
- Hialeah Gdns, FL
- Palm Springs North, FL
- Opa Locka, FL
- Carol City, FL
- Hialeah, FL
- Medley, FL
- Miami Springs, FL
- Milam Dairy, FL
- Virginia Gardens, FL
- Virginia Gdns, FL
- Hialeah Gardens, FL
- Dr Martin Luther King Jr, FL
- Barry University, FL
- Nmb, FL
- North Miami, FL
- Biscayne Park, FL
- Doral, FL
- Air Mail Facility, FL
- Keystone Islands, FL
- Uleta, FL
- Mia Shores, FL
- Mia Shrs, FL
- Miramar, FL
- Pembroke Pines, FL
- Pembroke Pnes, FL
- W Hollywood, FL
- West Hollywood, FL
- West Park, FL
- El Portal, FL
- Miami Shores, FL
- Pembroke Lakes, FL
- Cooper City, FL
- West Miami, FL
- Sweetwater, FL
- Sunny Isl Bch, FL
- Sunny Isles, FL
- Sunny Isles Beach, FL
- N Miami Beach, FL
- North Miami Beach, FL
- Golden Beach, FL
- Aventura, FL
- Normandy, FL
- Normandy Isle, FL
- North Bay Village, FL
- North Bay Vlg, FL
- Ind Crk Vlg, FL