If you recently started or plan to start a business in Grandville MI or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Grandville MI.
Obtaining a Tax ID Number (EIN)
When starting a business in Grandville MI, 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.
Michigan State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Grandville MI you will also likely need a Michigan 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 Michigan State Website at http://www.michigan.gov/taxes/0,4676,7-238-43519_43521---,00.html
Cities in Michigan
- Wyoming, MI
- Georgetown Twp, MI
- Georgetown Tp, MI
- Jenison, MI
- Georgetown Township, MI
- Jamestown, MI
- Hudsonville, MI
- Kentwood Brch, MI
- Walker, MI
- Byron Township, MI
- Byron Center, MI
- Standale, MI
- Kentwood, MI
- Cutlerville, MI
- Christian Reformed Church, MI
- Gr, MI
- Radio Bible Class, MI
- Business Reply Mail, MI
- Grand Rapids, MI
- Zondervan Corp, MI
- Zeeland, MI
- Borculo, MI
- E Grand Rapid, MI
- East Grand Ra, MI
- East Grand Rapids, MI
- Forest Hills, MI
- Allendale, MI
- Marne, MI
- Lamont, MI
- Burnips, MI
- Moline, MI
- Dorr, MI
- Caledonia, MI
- Dutton, MI
- Comstock Park, MI
- Wayland, MI
- Coppersville, MI
- Coopersville, MI
- Eastmanville, MI
- Amway Corp, MI
- Ada, MI
- Cascade, MI
- Cascade Twp, MI
- West Olive, MI
- Port Sheldon, MI
- Hamilton, MI
- Conklin, MI
- Belmont, MI