If you recently started or plan to start a business in Bethel CT or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Bethel CT.
Obtaining a Tax ID Number (EIN)
When starting a business in Bethel CT, 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.
Connecticut State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Bethel CT you will also likely need a Connecticut 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 Connecticut State Website at http://www.ct.gov/drs/cwp/view.asp?a=1509&q=266240
Cities in Connecticut
- Grolier Entrprz Inc, CT
- Shared Zip For Brm, CT
- Union Carbide Corp, CT
- Hawleyville, CT
- Newtown, CT
- Danbury, CT
- Redding Ridge, CT
- Redding Center, CT
- Redding Ctr, CT
- Redding, CT
- West Redding, CT
- Brookfield, CT
- Brookfield Center, CT
- Brookfld Ctr, CT
- Botsford, CT
- Ridgefield, CT
- Sandy Hook, CT
- Easton, CT
- New Fairfield, CT
- Monroe, CT
- Stepney, CT
- Upper Stepney, CT
- Promotion Systems Inc, CT
- Georgetown, CT
- Bridgewater, CT
- South Britain, CT
- Southbury, CT
- Stevenson, CT
- Southeast, NY
- Sears Corners, NY
- Brewster, NY
- Weston, CT
- South Salem, NY
- Lake Kitchawan, NY
- Lewisboro, NY
- North Salem, NY
- Waccabuc, NY
- Wilton, CT
- Patterson, NY
- Trumbull, CT
- Roxbury, CT
- Cross River, NY
- General Electric, CT
- Oxford, CT
- Seymour, CT
- Shelton, CT
- Huntington, CT
- New Milford, CT