How to Get a Tax ID (EIN) in Rome Heights IL

Obtaining a Tax ID Number (EIN)

When starting a business in Rome Heights 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 Rome Heights 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

• Chillicothe, IL
• Edgewater Terrace, IL
• North Hampton, IL
• Galena Knolls, IL
• Renchville, IL
• Holmes Center, IL
• South Rome, IL
• Vets Row, IL
• Vonachen Knolls, IL
• Rome, IL
• Edelstein, IL
• Lawn Ridge, IL
• West Hallock, IL
• Mossville, IL
• Lowpoint, IL
• Cazenovia, IL
• Sparland, IL
• Hopewell, IL
• Hopewell Estates, IL
• Lake Of The Woods, IL
• Dunlap, IL
• Oak Ridge, IL
• Partridge, IL
• Germantown Hills, IL
• Germantwn Hls, IL
• Metamora, IL
• Lacon, IL
• Alta, IL
• Pottstown, IL
• Peoria Heights, IL
• Peoria Hts, IL
• Camp Grove, IL
• Wilbern, IL
• Washburn, IL
• Bayview Gardens, IL
• Bayview Gdns, IL
• Robein, IL
• East Peoria, IL
• Spring Bay, IL
• Monica, IL
• Princeville, IL
• Il Central College, IL
• Kickapoo, IL
• Edwards, IL
• Henry, IL
• Saratoga Center, IL
• Speer, IL
• St Francis Hosp, IL