If you recently started or plan to start a business in Laveen AZ or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Laveen AZ.
Obtaining a Tax ID Number (EIN)
When starting a business in Laveen AZ, 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.
Arizona State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Laveen AZ you will also likely need a Arizona 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 Arizona State Website at https://www.azdor.gov/Business.aspx
Cities in Arizona
- Census Bureau, AZ
- Tolleson, AZ
- Avondale, AZ
- Avondale Goodyear, AZ
- Cashion, AZ
- Ctc Florist, AZ
- Phoenix, AZ
- Goodyear, AZ
- Glendale, AZ
- Luke AFB, AZ
- Guadalupe, AZ
- Asu, AZ
- Arizona State University, AZ
- Arizona State Univ, AZ
- Peoria, AZ
- Gbafaf, AZ
- Luke Air Force Base, AZ
- Tempe, AZ
- Litchfield Park, AZ
- Litchfield, AZ
- Litchfield Pk, AZ
- Chandler, AZ
- Youngtown, AZ
- Sun City, AZ
- El Mirage, AZ
- Paradise Vly, AZ
- Paradise Valley, AZ
- Waddell, AZ
- Sun Lakes, AZ
- Maricopa, AZ
- Mesa, AZ
- Scottsdale, AZ
- Gilbert, AZ
- Surprise, AZ
- Sun City West, AZ
- Mobile, AZ
- Higley, AZ
- Palo Verde, AZ
- Chandler Heights, AZ
- Chandler Hts, AZ
- Fountain Hills, AZ
- Fountain Hls, AZ
- Stanfield, AZ
- Sacaton, AZ
- Buckeye, AZ
- Arlington, AZ
- Bapchule, AZ
- Wittmann, AZ