If you recently started or plan to start a business in Saint Peters MO or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Saint Peters MO.
Obtaining a Tax ID Number (EIN)
When starting a business in Saint Peters MO, 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.
Missouri State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Saint Peters MO you will also likely need a Missouri 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 Missouri State Website at http://dor.mo.gov/business/register/
Cities in Missouri
- Harvester, MO
- St Peters, MO
- Maryland Heights, MO
- Maryland Hts, MO
- Town And Country, MO
- Twn And Cntry, MO
- Earth City, MO
- Bridgeton, MO
- Bridgeton Terrace, MO
- Creve Coeur, MO
- Cottleville, MO
- Weldon Spring, MO
- Weldon Spring Heights, MO
- St Anne, MO
- Northwest Plaza, MO
- Nw Plaza, MO
- Saint Ann, MO
- Saint Anne, MO
- Robertson, MO
- Vigus, MO
- Hazelwood, MO
- Lambert Airport, MO
- Lambert Arprt, MO
- Olivette, MO
- Orchard Farm, MO
- Kampville, MO
- Kampville Beach, MO
- Kampville Court, MO
- South Shore, MO
- Saint Charles, MO
- Black Walnut, MO
- Winchester, MO
- Ballwin, MO
- Ellisville, MO
- Manchester, MO
- Breckenridge Hills, MO
- Brecknrdg Hls, MO
- Overland, MO
- Saint John, MO
- Charlack, MO
- Vinita Park, MO
- Westwood, MO
- Frontenac, MO
- Country Life Acres, MO
- Crystal Lake Park, MO
- Huntleigh, MO
- Des Peres, MO
- Flor, MO