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

Obtaining a Tax ID Number (EIN)

When starting a business in Secor 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 Secor 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

• El Paso, IL
• Panola, IL
• Kappa, IL
• Congerville, IL
• Carlock, IL
• Eureka, IL
• Roanoke, IL
• Benson, IL
• Goodfield, IL
• Hudson, IL
• Gridley, IL
• Waldo, IL
• Minonk, IL
• Spires, IL
• Woodford, IL
• Deer Creek, IL
• Danvers, IL
• Il State University, IL
• Towanda, IL
• Normal, IL
• College Hills Mall, IL
• Washington, IL
• Beverly Manor, IL
• Washburn, IL
• Wilbern, IL
• 3 State Farm Plaza, IL
• Blm, IL
• State Farm Ins Il Region Ofc, IL
• Oak Ridge, IL
• Germantown Hills, IL
• Germantwn Hls, IL
• Metamora, IL
• Partridge, IL
• Lilly, IL
• Mackinaw, IL
• Oldtown, IL
• Eastland Commons, IL
• Eastland Shopping Center, IL
• Barnes, IL
• Yuton, IL
• Kerrik, IL
• Bloomington, IL
• Bloomington Heights, IL
• Bloomington Normal Airport, IL
• Fletcher, IL
• Gillum, IL
• Field Shopping Center, IL
• Mayfair, IL