If you recently started or plan to start a business in Resaca GA or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Resaca GA.
Obtaining a Tax ID Number (EIN)
When starting a business in Resaca GA, 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.
Georgia State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Resaca GA you will also likely need a Georgia 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 Georgia State Website at https://georgia.gov/popular-topic/applying-state-taxpayer-identification-number
Cities in Georgia
- Sugar Valley, GA
- Calhoun, GA
- Oakman, GA
- Chatsworth, GA
- Dalton, GA
- Ranger, GA
- Rocky Face, GA
- Fairmount, GA
- Plainville, GA
- Adairsville, GA
- Armuchee, GA
- Eton, GA
- Rydal, GA
- Tunnel Hill, GA
- La Fayette, GA
- Lafayette, GA
- Shannon, GA
- Varnell, GA
- Talking Rock, GA
- White Stone, GA
- Ringgold, GA
- Rock Spring, GA
- Trion, GA
- Summerville, GA
- Cohutta, GA
- Crandall, GA
- Cisco, GA
- East Ellijay, GA
- Cassville, GA
- Lake Arrowhead, GA
- Waleska, GA
- Kingston, GA
- White, GA
- Rome, GA
- Mount Berry, GA
- Tennga, GA
- Jasper, GA
- Big Canoe, GA
- Chickamauga, GA
- North Corners, GA
- Cartersville, GA
- Euharlee, GA
- Conasauga, TN
- Graysville, GA
- Apison, TN
- Ft Oglethorpe, GA
- Fort Oglethorpe, GA
- Ellijay, GA