How to Get a Tax ID (EIN) in Bristol IL

Obtaining a Tax ID Number (EIN)

When starting a business in Bristol IL, 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.

Illinois State Tax ID

Outside of obtaining your Federal Tax ID (EIN) in Bristol IL you will also likely need a Illinois 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 Illinois State Website at http://www.revenue.state.il.us/Businesses/register.htm

Cities in Illinois

• Boulder Hill, IL
• Montgmry, IL
• Montgomery, IL
• Oswego, IL
• Plano, IL
• Little Rock, IL
• Sugar Grove, IL
• Plattville, IL
• Yorkville, IL
• Nicor Gas, IL
• Northern Il Gas, IL
• Northern Ill Gas Co, IL
• Big Rock, IL
• North Aurora, IL
• Millbrook, IL
• Mooseheart, IL
• At & T, IL
• Fox Valley, IL
• Aurora, IL
• Kaneville, IL
• Batavia, IL
• Eola, IL
• Sandwich, IL
• Plainfield, IL
• Campton Hills, IL
• Elburn, IL
• Nettlecreek, IL
• Newark, IL
• Lisbon, IL
• Helmar, IL
• Hinckley, IL
• Geneva, IL
• Millington, IL
• Lafox, IL
• Somonauk, IL
• Warrenville, IL
• Naperville, IL
• Minooka, IL
• Wasco, IL
• Virgil, IL
• Lily Lake, IL
• Maple Park, IL
• Shorewood, IL
• St Charles, IL
• Saint Charles, IL
• West Chicago, IL
• Northwoods, IL
• Romeoville, IL