If you recently started or plan to start a business in Livonia LA or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Livonia LA.
Obtaining a Tax ID Number (EIN)
When starting a business in Livonia LA, 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.
Louisiana State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Livonia LA you will also likely need a Louisiana 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 Louisiana State Website at http://www.revenue.louisiana.gov/Businesses/BusinessRegistration
Cities in Louisiana
- Torbert, LA
- Oscar, LA
- Lakeland, LA
- Fordoche, LA
- Jarreau, LA
- Blanks, LA
- Lottie, LA
- New Roads, LA
- Labarre, LA
- Morganza, LA
- Rougon, LA
- Ventress, LA
- Maringouin, LA
- Ramah, LA
- Rosedale, LA
- Erwinville, LA
- Bueche, LA
- Glynn, LA
- Port Allen, LA
- Krotz Springs, LA
- Melville, LA
- Bayou Current, LA
- Goodwood, LA
- Elba, LA
- Bayou Rouge, LA
- Woodside, LA
- Grosse Tete, LA
- Scotlandville, LA
- Port Barre, LA
- St Francisvle, LA
- Hardwood, LA
- Saint Francisville, LA
- Bains, LA
- Starhill, LA
- Batchelor, LA
- Southern University, LA
- Brusly, LA
- Baker, LA
- The Bluffs, LA
- Jackson, LA
- Innis, LA
- Palmetto, LA
- Baton Rouge, LA
- Entergy Corp, LA
- Wakefield, LA
- Zachary, LA
- Saint Martinville, LA
- Parks, LA