If you recently started or plan to start a business in Birdie MS or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Birdie MS.
Obtaining a Tax ID Number (EIN)
When starting a business in Birdie MS, 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.
Mississippi State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Birdie MS you will also likely need a Mississippi 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 Mississippi State Website at https://tap.dor.ms.gov/_/
Cities in Mississippi
- Coahoma, MS
- Rudyard, MS
- Rich, MS
- Lula, MS
- Jonestown, MS
- Amistead, MS
- Friars Point, MS
- Clove Hill, MS
- Lyon, MS
- Marks, MS
- Tibbs, MS
- Farrell, MS
- Helena, AR
- Sabino, MS
- Hinchcliff, MS
- Darling, MS
- Powell, MS
- Jeffries, MS
- Clayton, MS
- Dubbs, MS
- Dundee, MS
- Sledge, MS
- Mattson, MS
- Baltzer, MS
- Stovall, MS
- King And Anderson, MS
- Roundaway, MS
- Bobo, MS
- Riverton, MS
- Clarksdale, MS
- West Helena, AR
- Baugh, MS
- Sherard, MS
- Lexa, AR
- Crenshaw, MS
- Askew, MS
- Barton, AR
- Lambert, MS
- Vance, MS
- Dublin, MS
- Hollywood, MS
- Prichard, MS
- Tunica, MS
- Austin, MS
- North Tunica, MS
- Little Texas, MS
- Wabash, AR
- Oneida, AR