If you recently started or plan to start a business in Mesa CO or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Mesa CO.
Obtaining a Tax ID Number (EIN)
When starting a business in Mesa CO, 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.
Colorado State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Mesa CO you will also likely need a Colorado 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 Colorado State Website at https://www.colorado.gov/revenue
Cities in Colorado
- Molina, CO
- Eckert, CO
- Coalby, CO
- Cedaredge, CO
- Grand Mesa, CO
- East Orchard Mesa, CO
- Palisade, CO
- Clifton, CO
- Cory, CO
- Austin, CO
- Orchard City, CO
- Fruitvale, CO
- Plateau City, CO
- Collbran, CO
- Hotchkiss, CO
- Rogers Mesa, CO
- Delta, CO
- Whitewater, CO
- Lazear, CO
- Grand Jct, CO
- Grand Junction, CO
- Bowie, CO
- Paonia, CO
- Appleton, CO
- Colorado National Monument, CO
- Fruita, CO
- Battlement Mesa, CO
- Rulison, CO
- Btlmt Mesa, CO
- Grand Valley, CO
- Parachute, CO
- De Beque, CO
- Maher, CO
- Crawford, CO
- Silt, CO
- Gateway, CO
- Olathe, CO
- Loma, CO
- Glade Park, CO
- Bear Mine, CO
- Somerset, CO
- Montrose, CO
- Colona, CO
- Rio Blanco, CO
- Antlers, CO
- Rifle, CO
- Mack, CO
- New Liberty, CO