How to Get a Tax ID (EIN) in Tipton IN

Obtaining a Tax ID Number (EIN)

When starting a business in Tipton IN, 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.

Indiana State Tax ID

Outside of obtaining your Federal Tax ID (EIN) in Tipton IN you will also likely need a Indiana 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 Indiana State Website at http://www.in.gov/sos/business/3793.htm

Cities in Indiana

• Goldsmith, IN
• Hobbs, IN
• Aroma, IN
• Atlanta, IN
• East Union, IN
• Ekin, IN
• Nevada, IN
• Sharpsville, IN
• Windfall, IN
• Arcadia, IN
• Kempton, IN
• Hemlock, IN
• Oakford, IN
• Westfield, IN
• Cicero, IN
• Curtisville, IN
• Meadowood Est, IN
• Meadowood Estates, IN
• Duck Creek, IN
• Elwood, IN
• New Lancaster, IN
• Pipe Creek, IN
• Leisure, IN
• Rigdon, IN
• West Elwood, IN
• West Middleton, IN
• W Middleton, IN
• Forest, IN
• Greentown, IN
• Sheridan, IN
• Frankton, IN
• Russiaville, IN
• Noblesville, IN
• Strawtown, IN
• Orestes, IN
• Kirklin, IN
• Boyleston, IN
• Michigantown, IN
• Kokomo, IN
• Country Club Heights, IN
• Ctry Clb Hgts, IN
• River Forest, IN
• Woodlawn Heights, IN
• Woodlawn Hgts, IN
• Anderson, IN
• Sims, IN
• Swayzee, IN
• Lapel, IN