If you recently started or plan to start a business in Hesston KS or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Hesston KS.
Obtaining a Tax ID Number (EIN)
When starting a business in Hesston KS, 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.
Kansas State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Hesston KS you will also likely need a Kansas 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 Kansas State Website at http://ksrevenue.org/forms-btreg.html
Cities in Kansas
- Moundridge, KS
- North Newton, KS
- Goessel, KS
- Halstead, KS
- Walton, KS
- Newton, KS
- Zimmerdale, KS
- Sedgwick, KS
- Burrton, KS
- Buhler, KS
- Canton, KS
- Galva, KS
- Hillsboro, KS
- Peabody, KS
- Elbing, KS
- Bentley, KS
- Lehigh, KS
- Park City, KS
- Valley Center, KS
- Whitewater, KS
- Inman, KS
- Roxbury, KS
- Mc Pherson, KS
- Mcpherson, KS
- Conway, KS
- Maize, KS
- Colwich, KS
- Kechi, KS
- North Wichita, KS
- Mount Hope, KS
- Medora, KS
- Florence, KS
- Potwin, KS
- Haven, KS
- Durham, KS
- Greenwich, KS
- Benton, KS
- Comotara, KS
- Bel Aire, KS
- Tampa, KS
- Hutchinson, KS
- Willowbrook, KS
- Andale, KS
- S Hutchinson, KS
- So Hutchinson, KS
- South Hutchinson, KS
- Yoder, KS
- Marion, KS