If you recently started or plan to start a business in Fort Lesley J Mcnair DC or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Fort Lesley J Mcnair DC.
It’s important to understand that there are 2 different types of Tax ID’s that you will likely need in Fort Lesley J Mcnair DC, a Federal Tax ID (also known as an EIN) and a State Level Tax ID.Obtaining a Tax ID Number (EIN)
When starting a business in Fort Lesley J Mcnair DC, 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.
District of Columbia State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Fort Lesley J Mcnair DC you will also likely need a District of Columbia 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 District of Columbia State Website at SELECT * FROM `TABLE 4` WHERE `State` = 'District of Columbia' LIMIT 1
Cities in District of Columbia
- Ft L J Mcnair, DC
- Fort Mcnair, DC
- Pentagon, DC
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- Dept Of The Navy, VA
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- Joint Staff, DC
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- Verizon, DC
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- Pnc Financial, DC
- Criterion Ins Co, DC
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- Geico, DC
- Sun Trust Bank Inc, DC
- Marriott Corp, DC
- Int Group Plans Inc, DC
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- Washington Gas, DC
- Blue Cross Group Hosp, DC
- Natl Repub Cong Comm, DC
- Bank Of America, DC
- Howard University Hospital, DC
- Action, DC
- Court Of Military Appeals, DC
- Comptroller Of Currency, DC
- Anacostia, DC
- Dept Commerce, DC
- Consumer Product Safety Comm, DC
- Bureau Of Indian Affairs, DC
- Dept Air Force Pentagon, DC
- Dept Hlth Human Serv, DC
- Dept Education, DC
- Adm Office US Court, DC
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- Comm Equal Oppor Armed Forc, DC
- Bureau Labor Statistics, DC
- Bureau Engav And Printing, DC
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- Bureau Of Prisons, DC
- Bureau Narc Dngr Drugs Lab, DC