If you recently started or plan to start a business in Sleetmute AK or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Sleetmute AK.
Obtaining a Tax ID Number (EIN)
When starting a business in Sleetmute AK, 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.
Alaska State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Sleetmute AK you will also likely need a Alaska 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 Alaska State Website at https://www.commerce.alaska.gov/web/cbpl/Corporations/ObtainEntityNumber.aspx
Cities in Alaska
- Chuathbaluk, AK
- Stony River, AK
- Aniak, AK
- Red Devil, AK
- Crooked Creek, AK
- Takotna, AK
- Kalskag, AK
- Shageluk, AK
- Lower Kalskag, AK
- Holy Cross, AK
- Port Alsworth, AK
- Mcgrath, AK
- Mc Grath, AK
- Nikolai, AK
- Tuluksak, AK
- Nondalton, AK
- Kokhanok, AK
- Kokhonak, AK
- Iliamna, AK
- New Stuyahok, AK
- Ekwok, AK
- Russian Mission, AK
- Russian Msn, AK
- Anvik, AK
- Akiak, AK
- Akiachak, AK
- Kwethluk, AK
- Pedro Bay, AK
- Marshall, AK
- Aleknagik, AK
- Toksook Bay, AK
- Tuntutuliak, AK
- Levelock, AK
- Tyonek, AK
- Napakiak, AK
- Bethel, AK
- Newtok, AK
- Napaskiak, AK
- Atmautluak, AK
- Skwentna, AK
- Unalakleet, AK
- Nunapitchuk, AK
- Dillingham, AK
- Twin Hills, AK
- Koliganek, AK
- Kasigluk, AK
- Naknek, AK
- Grayling, AK