If you recently started or plan to start a business in Paradise AZ or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Paradise AZ.
Obtaining a Tax ID Number (EIN)
When starting a business in Paradise 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 Paradise 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
- Portal, AZ
- San Simon, AZ
- Hilltop, AZ
- Bowie, AZ
- Sunizona, AZ
- Pearce, AZ
- Sunsites, AZ
- Gleeson, AZ
- Elfrida, AZ
- Cochise, AZ
- Rodeo, NM
- Turkey Creek, AZ
- Klondyke, AZ
- Ft Grant, AZ
- Kansas Settlement, AZ
- Chiricahua National Monument, AZ
- Dos Cabezas, AZ
- Sunset, AZ
- Fort Grant, AZ
- Willcox, AZ
- Rucker, AZ
- Sierra Bonita, AZ
- Bonita, AZ
- Dragoon, AZ
- Mcneal, AZ
- Double Adobe, AZ
- Mc Neal, AZ
- Douglas, AZ
- Bay Acres, AZ
- Paul Spur, AZ
- Road Forks, NM
- Virden, NM
- Separ, NM
- Pomerene, AZ
- Tombstone, AZ
- Playas, NM
- Lordsburg, NM
- Safford, AZ
- Saint David, AZ
- Pirtleville, AZ
- Tintown, AZ
- Bisbee, AZ
- Sunset Acres, AZ
- South Bisbee, AZ
- Lowell, AZ
- Bisbee Jct, AZ
- Copper Queen, AZ
- Winwood, AZ