How to Get a Tax ID (EIN) in Germantown MD

Obtaining a Tax ID Number (EIN)

When starting a business in Germantown MD, 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.

Maryland State Tax ID

Outside of obtaining your Federal Tax ID (EIN) in Germantown MD you will also likely need a Maryland 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 Maryland State Website at http://taxes.marylandtaxes.com/Business_Taxes/New_Businesses/

Cities in Maryland

• Darnestown, MD
• N Potomac, MD
• No Potomac, MD
• North Potomac, MD
• Boyds, MD
• Natl Inst Stds & Tech Md, MD
• Montgomery Village, MD
• Montgomry Vlg, MD
• Gaithersburg, MD
• Washingtn Grv, MD
• Washington Grove, MD
• Laytonsville, MD
• Potomac, MD
• Poolesville, MD
• Barnesville, MD
• Beallsville, MD
• Derwood, MD
• Rockville, MD
• Hhs, MD
• Dickerson, MD
• Comus, MD
• Potomac Falls, VA
• Clarksburg, MD
• Hyattstown, MD
• Great Falls, VA
• N Bethesda, MD
• No Bethesda, MD
• North Bethesda, MD
• Damascus, MD
• Westlake, MD
• Olney, MD
• Herndon, VA
• Sterling, VA
• Greenway, VA
• Sprint, VA
• Natl Assn Letter Carriers, VA
• Ashburn, VA
• Lucketts, VA
• Lansdowne, VA
• Reston, VA
• Garrett Park, MD
• Glenmont, MD
• Norbeck, MD
• Aspen Hill, MD
• Leisure World, MD
• Subn Md Fac, MD
• Suburb Maryland Fac, MD
• Suburban Md Brm, MD